Thursday, February 17, 2011

Comments and 02-18 outlook

Again it came down to a "guess the open" type day.  We opened down and then saw the expected move up.  The afternoon and close a little stronger than expected.  Still not a bad call for the day.

Tomorrow we should have the 5 day, 8 day and 11 day cycles up and topping by Tue next week  The shorter cycles are down most of the day.   Expect these 3 longer cycles to set the aura for the day and the market to move up most of the day.  May get a push into the close as 2 of the 3 short cycles will have bottomed during the day.

Here are charts:


GL traders.  Do your own analysis and keep those stops in place to protect profits.
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4 comments:

  1. shadow7February 19, 2011 at 7:38 AM

    Do cycles continue through the weekend or do they pick up where they stop at?

    ReplyDelete
  2. InletFebruary 19, 2011 at 9:52 PM

    Depends - are you counting in calendar days (ie 1 year cycle) or trading days (22TD cycle).

    ReplyDelete
  3. shadow7February 19, 2011 at 10:29 PM

    I guess trading days...I'm trying to get a picture of what Tuesday will be like since the 11 TD peaking and the 22 TD on the downside. Are the shorter cycles (3,4,5) based on trading days or calendar days?

    ReplyDelete
  4. InletFebruary 22, 2011 at 4:07 AM

    I used TDs for short cycles.

    ReplyDelete

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