Sunday, August 3, 2014

Aug monthly and Aug 3, 2014 weekly outlook

I noted in my post (start of 2nd half) the outlook for the remainder of the year.  Expectations were for a pullback into late September.  Too early to say for sure, but the outlook has gotten more negative this past week.  Here is the updated chart for the next few months:

This next week the  2 month cycle should top and turn down resulting in 4 medium length cycles down....  This should more than offset the impact of shorter cycles such as the monthly cycle which is up.  There may be an attempt to rally but any upside should be limited over the next week and shortly after that the monthly cycle will also turn down leading to a negative outlook for August.  In summary - sideways to down this week and then down.  Here is a visual (short term):

FIB target 1 1898...

GL traders

1 comment: