comments and outlook for 05-09-2011

Friday showed some recovery from a down week as I expected.  Monday should continue that recovery, but it will slow and not very exciting.  I would expect a minor move up early, a pullback midday and then a modest move up in the afternoon.  The 22TD cycle is down but not at full momentum down yet.  The 11.2TD cycle is up, the 5.6TD cycle is up but tops around noon. the 2.8TD cycle is down and bottoms around noon.  Maybe 4-5 points on the S&P at the end of the day?

Here is a visual:

GL traders.  Do your own analysis..