Of course the risk/question is when does the 22TD cycle gain enough momentum to dominate? We should be approaching that point (so there is a good chance we do not get the expected up move).
Here is the chart:
Wednesday, May 11, 2011
Comments and 05-12-2011
Today was as expected in yesterday's post. The day was down with a small bounce toward the close. Tomorrow is less clear. I believe we may get a small down tick early and then turn up for the remainder of the day. The 22TD cycle is down, the 11.2TD cycle topped and turned down. The 5.6TD and 2.8TD cycles turn up early in the day (if not before the close). So that gives us the two longer cycles down, the two shorter cycles up. I expected the shorter cycles to win as they turn quicker and that we will have an up day. I do not believe it will be a big up day, but up 5 or so points.
Of course the risk/question is when does the 22TD cycle gain enough momentum to dominate? We should be approaching that point (so there is a good chance we do not get the expected up move).
Here is the chart:
GL traders. Do your own analysis.
Of course the risk/question is when does the 22TD cycle gain enough momentum to dominate? We should be approaching that point (so there is a good chance we do not get the expected up move).
Here is the chart:
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Nice read and call on today's action, delayed or not, that is some excellent cycle analysis to have in your back pocket.
ReplyDeleteCheers