Thursday, June 6, 2013

Outlook week of June 3

If we haven't already topped (??) then this is the week I projected in my 2013 outlook as the week we top (have the 1/3 Kitchin cycle, a Wall cycle and a 34TD cycle topping).  So with 3 medium length cycles topping we should expect a sizable pullback in  last 3 weeks of June and extended into July.

Today played out as projected.  If the up/down chop continues we should see some upside Monday.  May see some follow thru today's close and then reverse? 

For the week as I indicated above we have 3 longer cycles topping which means they should have exhausted upside momentum.  We have two shorter cycles in play but one will be topping and one bottoming, so they offset. In summary - probably a sideways market the first 4 days and possibly fireworks Friday on employment #s.  Here is the week:

Are your stop losses in place? If not  - why not?

June 6: looks like a top was made....  Cycles now appear to be left translated (down legs longer than up legs).  Take a look:

Friday morning - June 7:  Up as projected (see chart above), may be topping:


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