Sunday, August 17, 2014

Weekly outlook for Aug 18, 2014

Hard to figure - was the market up/down/sideways last week.  The SPX500 was up about 1%, the Dow just over 1/2% up and R2k was down. As you probably know if you have followed my blog for a while I trade RWM (inverse R2K, R2K down then RWM up).  I guess I can claim to be right by picking one Index, but I generally chart SPX so we were sideways almost (right on no big move) and was looking good mid week, but not so good by week end.  Not exactly as I called it, but close.

This next week we have 3 shorter cycles (1 month, 2 month, 4 month) up with some longer cycles down.  So moving up will encounter some headwinds (longer cycles down and who knows about Ukraine, Iraq, Syria, Hamas, etc.).  From a cycle perspective it looks like mixed during the week as the Market struggles upwards (my guess would be around +20 pts. on SPX500).

Here is a visual:


If we test/exceed old highs might want to trade some RWM?

GL traders.

4 comments:

  1. Short cycles dominating to start the week....

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  2. took just 2 days to exceed weekly target. Looks like we could break old highs on SPX this week.

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  3. Hi,let's joint with us. Make money from Amazon with Wp Amazillionaire

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  4. Market exceeded my expectations. Had a "gut" feeling this might happen. Still waiting on ^rut (R2k) to go a bit higher tow buy RWM (lower price). Sometimes you need to listen to your "gut"

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