Tuesday, March 22, 2011

comments and outlook 03-23

Well, we finally got a day without a gap at the open.  I told you in my weekend outlook post I expected less volatility.  Sure didn't expect this much less.  Yesterday I opined that the bias from the totality of the cycles would be up.  It wasn't.  I think the lesson is that the cycles are in balance and the up pressure is offset by the down pressure (hence the decreased volatility).

Looks like tomorrow should start out with a little down pressure as the 2 shorter cycles (5.65TD cycle and 2.8TD cycle) are down all or most of the day.  So I expect a downward bias, but not a big move down.  The Money flow (MFI) seems to be in balance also (cash out/in).

Here is a picture:



GL traders.  Plan a midday nap - it could be a slow day.  As always do your own analysis and be careful. 
Posted by at

2 comments:

  1. jennasueMarch 23, 2011 at 3:48 AM

    strap in for another test of the magical 1300-1305, then we all fall down.

    ReplyDelete
  2. InletMarch 23, 2011 at 4:50 AM

    Sue
    Always appreciate your opinion as you seem to have a good feel for the markets. 1300-1305 definitely seems reasonable. I can see the possiblility of even higher levels before we see a sizable pullback.

    Let's watch and adjust expectations if needed as the market reveals itself.

    ReplyDelete

Subscribe to: Post Comments (Atom)