The 33 day cycle dominated last week. I expect that to continue next week as that cycle is up for another 10 or so trading days. Of course you have the Wall cycle (20 weeks) down so that limits the upside somewhat. You may have some limitations from a shorter cycle (the 11 say cycle down. Still the 33 day cycle is dominating as it did in the sell off earlier in the month.
Based on this - I would expect the market to be up for the week. I believe we could achieve 1330 (S&P) on the upside during the week. Possible a bit more the following week (1335-1340). I am doubtful about new S&P highs because the Wall cycle is down now whereas it was up when we achieved the old highs.
Here is a visual outlook:
GL traders. Do your own analysis
I will try and provide an outlook for the month of April later.
No comments:
Post a Comment