comments and outlook 04-08-2011

Early on it looked like we might make a run to test Feb highs.  Then around 10:30 we got news of an earthquake in Japan that dropped the market and it never recovered fully.  I think we would have to call it a flat to slightly down day.  Looking more and more like a topping process....

Tomorrow we should have the 33 trading day cycle topping and the 11.3  trading day cycle also topping (assuming I have the cycles right).  Of course we have a couple of shorter cycles turning up.  My best guess we open up and then fade during the day and close down.  Not a huge down day, but down....  Have to give the two longer cycles 1-2 days to build some downward momentum.

Here is the visual:

GL traders.  Make sure you have stops in place, and do your own analysis.