Friday, April 28, 2017

Weekly outlook May 1, 2017

I told you last week that the nested bottoms were over.  So we had around a 2% gain early in the week with new highs.  To give a somewhat longer view this week I am posting a weekly chart. It is about 2 weeks before the 9 month cycle tops and the 20 week and 10 week bottom.  The 5 week cycle will also bottom (not shown).  So mid May we will have a mid cycle (9 month cycle) pull back.  Should be good for about a 2% pull back?

Daily chart:

GL traders

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