Tuesday, September 27, 2011

09-28-2011 outlook

Today closed green as expected.  The run up (as always) exceeded expectations.  The expected pullback came the last hour (I had thought it might happen earlier in the day).  I believe the strength of the pull back speaks to the downside pressure of the shorter cycles.  So what about tomorrow?

Tomorrow by mid day the 5.6TD cycle bottoms,  It also appears the 2.8TD cycle may have turned a bit early.  If true we will see the downside continue tomorrow morning and last the first 3 hours or so of the day.  Because I believe there has been downside pressure building it could be sizable.  By afternoon the pressure may subside and we get a push up in the afternoon.  Can it recoup the earlier loss?  I believe tomorrow stands a better than even chance of being a down day  (maybe the best odds for the week).

Here is the SPX swing cycles:

GL traders.  Do you own analysis.  Your comments are welcomed.  RJA was not acting as expected so I sold for a small profit today.


1 comment:

  1. Per Keystone Speculator, the ^SOX needs to stay above 365 (presently 362) and RTH above 104 (presently 105.7) for bullish action to continue. So it is a mixed bag so far.
    Phil Davis feels there is too much Doom & Gloom by the MSM. He wrote that Greece has already been approved to receive 109 billion, but money won't be released until Greece reaches certain targets. He feel some of this money will be released to "save Greece again".