Tuesday, May 24, 2011

Comments and outlook for 05-25-2011

Today was a relatively calm day, up early and a fade during the day.  I expect the longer cycles will continue to build  up downside pressure tomorrow, but you have the 3 shorter cycles up and one topping.  Do we have another day with limited movement (as the downside pressure builds from the longer cycle)?   This longer cycle down pressure could kick in at any time.  That could be tomorrow (futures showing a lot of red) or the day after, but I believe it will happen soon.  Hard to get a fix on exactly when this will happen.   If you are long use trailing stops.
Here is a visual:

GL traders.  Do your own analysis.

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