Comments and outlook for 07-25-2011

A weekend of Kabuki theater from DC had the pundits speculating about a possible severe market sell off Monday.  Still I look at cycles to project not the news out of DC. 

Monday it appears we should at least start the day to the downside.  The 34TD cycle, the 5.6TD cycle and 2.8 TD cycles are down.  I expect the 5.6TD cycle and 2.8TD cycle to bottom by day's end.  The 11.2 TD cycle is up and should top by day's end.  The 22TD cycle is up.   The 22TD cycle has shown unexpected strength so far.  The 65-70TD cycle is up and 20 week cycle should be down.  So we start the day down, but may see some recovery by the end of the day.

Here is a visual of the SPX:

The suggested range (from the FIBS) is between 1361 and 1329.  Here is a FIBS table:

GL traders.  Do you own analysis and be careful.