Friday, March 13, 2015

Mar 16, 2015 weekly outlook

Last week I suggested a  bottoming scenario with the possibility of not much change.  At the end of the week the SnP 500 was down a little over 1% even though we had 200-300 point moves up and down.  The bottoming should be finished early this week,  Then we get the FED meeting and all the pumping that implies by mid week.  This should result in about 6 up days (half the 12TD cycle) as the nested cycles I follow turn up.  Of course it takes time off the bottom for the longer cycles to achieve momentum so upside may be muted as it will be mostly due to the shorter cycle.

Here is a visual:

GL traders

Monday morning:  Looks like "early week" was open on Monday....

Tuesday close:  down,  but still up for 2 days

Thursday:  Top of 12TD cycle forming:

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