Friday, December 2, 2016

Dec 5, 2016 weekly outlook

 I said last week "I expect a sideways market, odds may slightly favor a down week.". What happened?  DOW Industrials up about .1% (slight gain), SnP500 down about 1%, small cap R2K down about 2%.  Overall sideways with a down bias.   I think my call was close to market action.

This week the 5 week cycle should bottom by around mid week and turn up,  So for the week the market moves sideways with highs at the beginning or end of the week and lows mid week. Remember the other cycles are up so odds are the high will be end of the week, but the trend for the week is primarily sideways.


GL traders



4 comments:

  1. Appears 5 week cycle bottomed Friday?

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  2. Not much doubt, bottom set end of last week....

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  3. Since I was expecting a bottom by mid week it is only reasonable to expect with all cycles up that the week would continue to advance thru the end of the week. Seems we have a short leg (time wise) down.

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