Monday, September 12, 2011

outlook for 09-13-2011

Looks like the last hour did in my expectation of a "red" day.  We may have gotten the push up just a little sooner than I expected....   With the market closing near the day's highs you often get follow through the next morning.

It appears we may get some more upside early in the day.  I believe though that any upside will begin to fade by the afternoon (or earlier) as the longer term bias (34TD, 22TD, 11.2TD cycles) is down for the next 3-4 days.  May be an opportune time to reload RWM and QID in the morning.  We will see.  In summary - up early and then fade later.

Here is the SPX swing cycles:

GL traders.  Do your own analysis.  I will be watching for QID to break below 52 and RWM below 33.75 for potential entries. How much below - depends on how the market acts tomorrow morning.

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