Our indicators (TSI and CCI) are turning negative as well.
GL traders
Friday, May 22, 2015
May 25, 2015 weekly outlook
Monday unchanged.... a holiday. Long cycle (Wall) topped and is now down. The shorter cycle (2.5 week - 12 TDs) is down. the 5 week cycle is up and should top as the first week of June arrives. The 10 week cycle is up. So with 2 cycles down and 2 up expect more sideways action, but I would expect a wider range than the week just ended. Possibly some downside bias as we enter June?
Our indicators (TSI and CCI) are turning negative as well.
GL traders
Our indicators (TSI and CCI) are turning negative as well.
GL traders
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"So with 2 cycles down and 2 up expect more sideways action" - first 2 trading days up/down. so far for the week. " but I would expect a wider range than the week just ended" - volatility for Tue/Wed definitely more than prior week..
ReplyDelete"Possibly some downside bias as we enter June?" So far DOW down about 100 points for the week.
ReplyDeleteMay 18 weekly outlook I said: "By the end of May we may be into a real correction (sell in May and go away?) ". Starting to look like a good call.... Guess we find out how June plays out before we declare it a correct call.
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