Friday, August 14, 2015

Aug 17, 2015 weekly outlook

Appears we got a nested bottom by mid week (2-3 days later than I had projected).  By Friday indexes were up for the week as I indicated I believed would be the case as all the intermediate to short cycles I display in my charts turned up from the nested bottom.

In the coming week all these cycles will be up and the week of Aug 17 offers the best chance for new highs(SP500)  near term.  Expect volatility to continue with problems in China.  Russian economy is in a mess.  So is Brazil's economy.  Of the BRICs only India seems to be in relative decent shape.  The BRIC is turning into sand???  So longer term (Sep-Oct) markets look less positive.


Russell 2000 ETF:

update  8/18 after close:



GL traders

3 comments:

  1. New high on SP500?? A strong try, but may fall just short.

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  2. So on the 8/18 it was a top not a low as I projected (first resistance point) since the low on the 8/12. This exact low on the 8/12 could have been projected but I realized that too late... It was a nice cylcle matched if you want I can explain to you. And the 8/25 should be a low. You old 2.5 wk graph cycle was like that.

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