Cycles are a tool and should not be used to the exclusion of other tools. There is always the possibility (high probability long term) that the data will be misinterpreted or a relevant fact over looked. So use cycles to check your analysis, not as the only reason to make a decision. Interpretation is the opinion of the author and may be incorrect and should be viewed in that light.
Tuesday, August 16, 2011
Outlook for 08-17-2011
We may have seen some evidence of the 22TD cycle and its attempt to set a bottom today. It should do that late tomorrow or early Thursday. I expect another 20-30 points of potential down side. Here is a chart of the SPX shorter cycles:
GL traders. I hope actual market action matches expectations.