Comments and outlook 2-25

I mentioned yesterday we should not be surprised if we get an up day today or tomorrow.  I guess I failed to mentioned we could get a mixed day (some indices up, some down) - which is what we saw today.  I guess you could say I was half right.

So we had the 7+ day cycle bottom and turn  up (see yesterday's chart).  Tomorrow we should see the 11 day cycle top and turn down (again - see yesterday's chart).  So these two cycles should be a push (offset each other).

It still appears that the longer cycles are providing some downward momentum.  So how does this play out with the 5 day, 4 day and 1 day cycles. The 5 day cycle is up, the 4 day cycle is down - so another push (offsetting cycles).  The 1 day cycle tops around 10:30-11:00 am and is down until around 2:00 pm.  So maybe a little upward movement early and weakness during the middle of the session and some recovery into the close.

The day overall should have a down bias from the longer cycles and IMO close red.  For your viewing pleasure:

GL traders, do your own analysis and use extreme caution in buying dips.