Thursday, July 21, 2011

comments and outlook 07-22-2011

Sure did not anticipate the run today - seems the bailout news from Europe popped the market from the open.  Sometimes the news wins and the cycles lose.

Tomorrow the 34TD cycle is down, the 5.6TD cycle is down, the 2.8TD cycle is down.  The 22TD cycle is up.  The longer cycles (20 week and 65-70TD cycles) are down.  So the bias should be down.  Maybe we take back today's gain? Of course we could always get a debt ceiling agreement tomorrow....  or not which could hit the market.

A visual of the SPX:

GL traders.  Be careful buying dips Friday.

2 comments:

  1. I agree with the caution...even though I see Monday as being higher...that may be the peak...and we should fall choppy like until August 4th. Even Spiral Calendar is showing a quick spike and turn for Monday. Here's the charts I promised that now include the 22,35,100TD (and all there little ones). Ydays move I think was still a part of a cycle...I made an adjustment with the inclusion of the 35TD cycles and I think I got it. I agree with Inlet about going light on the dip here.
    http://tinypic.com/r/2uyndwn/7
    http://tinypic.com/r/r02x5i/7

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  2. Wow, Shadow7, That second chart is something!! How do you translate that into moves on the S&P? Looks a lot higher with some severe chop by year's end.

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