Wednesday, October 12, 2011

10-13-2011 outlook

The longer cycles continue to dominate.  It is 3-4 days to the top of the 22TD cycle so it should lose some upside momentum as it gets ready to top and turn down.  Still you have to be impressed by the strength of the longer cycles (22TD and 34TD) with a little help form the 2 shorter cycles. 

Tomorrow we have the 34TD and 22TD cycles still up.  The 5.6TD cycle is also still up.  The 11.2 and 2.8TD cycles are down.  I'd say given the dominance of the longer cycles should lead to an up day, but less so than today.  So flat to up tomorrow is my best guess.   Also, the double top back around Sep 16 to Sep 20  (1120 S&P) should provide a challenge (resistance) according to traditional TA.

Here is the SPX swing cycles:

GL traders.  Do your own analysis.

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