Friday, May 27, 2011

comments and outlook for 05-27-2011

The day was a bit greener than I expected.  Still, it traded pretty much within the expected range.  The downside pressure of any longer cycle continues to build and I do expect soon we will get a big down day that will set new lower lows.

Today - looking at the shorter cycles - the 2.8TD cycle topped yesterday and is down, the 11.2TD cycle is down.  The 22TD cycle is still up (about 3-4 days to a top).  The 11.2TD cycle is down (about 3 days to a bottom)..  The 5.6TD cycle is up but should top by end of day.  So we have a mixed situation.  I expect downside pressure during the day - maybe an attempt to rally by the end of the day...  For the day I expect the S & P to be down.

Here is a visual:

GL traders.  Do your own analysis and be careful.

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