Friday, December 6, 2013

Dec 9, 2013 weekly outlook

Friday wiped most of the downside achieved Monday thru Thursday.  Friday was the reversal of a short 10 day cycle (bottomed Thursday).  See for yourself:


Even though it appears we could have short term chop next week over all I suspect the general pressures are down between now and year end as the following chart illustrates:



GL traders

update 12/11 - 4:45pm EST - Appears the short cycle (10 days - 5 up/5 down) has become left translated with 2-3 days up.



15 comments:

  1. Hai inlet,How many days do you think this increase will continue?tq inlet

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    Replies
    1. through Thursday Dec 12 thyhen 5 days down

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  2. Market was up Monday, but so slight you hardly noticed.

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  3. MacNeil Curry, Head of Global Technical Strategy at Bank of America Merrill Lynch, says there are three reasons investors should get ready for as much as a 20% correction in the markets this coming year:

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  4. Tue - more chop with not much movement. Downside pressure causing sideways movement?

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  5. Spiral calendar looks like trouble for bulls?

    http://spiraldates.com/wp-content/uploads/2013/12/SP500_120613A.png

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  6. Dec 12 10:03 I believe we now have a lower high and a lower low on the S&P500 giving us a down sloping channel.

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  7. Hai inlet,Does the bottom 18 December will change?

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    Replies
    1. Dec 18 should mark a pause in the descent to the ultimate bottom around the 1st of the year. With short cycles becoming left translated (??) the up leg will be shorter in time and amount.

      If the market works out as the charts seem to indicate I would not be trading the long side in December.

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