Monday, May 16, 2011

comments and outlook for 05-17-2011

I said "So with this cycle alignment I expect Monday to be down.  I will be surprised if we don't get a 1% (or more) down day on the S&P 500.".  OK - paint me surprised, we did not get 1% down today.  At least I was in the right church - even if in the wrong pew.

Tuesday the 22TD cycle is  down, the 11.2TD cycle is down,  the 5.6TD cycle is down.  The 2.8TD cycle is up.  So tomorrow should be similar to today, but the push down by the longer of the short cycles if anything should be stronger than today.  I believe we should break below 1320 on the S&P 500 tomorrow.

Here is the chart with the short term cycles:

Gl traders.  Do your own analysis - and as always use stops to protect yourself....
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3 comments:

  1. kliguy38May 16, 2011 at 3:25 PM

    pretty good call.......naz was down over 1%

    ReplyDelete
  2. c_kMay 16, 2011 at 5:31 PM

    You may not have nailed it, but i agree with Kli ....... pretty good call

    ReplyDelete
  3. InletMay 16, 2011 at 6:35 PM

    Thanks Kli, thanks c_k - you guys are too kind.

    ReplyDelete

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