Friday, July 15, 2011

comments and outlook 07-15-2011

GOOG earnings were a WOW!!!  This should help support the NAZ.  If as I believe the 22TD cycle is due to bottom and with other shorter cycles having bottomed then we should get some upside pressure.  Some longer cycles (including the 34TD cycle) are down.  So we get a lot of offset from the opposing directions of the cycles.

The 34TD cycle is down.  The 22TD cycle is bottoming.  The 11.2TD and 5.6 TD cycles are up.  The 2.8TD cycle should top during the day.  So it will probably be a range bound day with an upside bias.

Here is a visual: 

GL traders.  Do you own analysis.


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