Wednesday, August 17, 2011

outlook for 08-18-2011

It is OPEX week, so anything could happen the next two days.  On the plus side though Barry is going to be on vacation and congress is out of town - so no one left in DC to screw things up. 

The shorter cycles bottomed today or early tomorrow.  The 34TD cycle, the 22TD cycle, the 11.2TD cycle, the 5.6TD cycle, the 2.8TD cycle now should all turn up.  So don't be surprised if tomorrow makes a move up above today's high.  Of course this assumes I have the cycles correctly positioned.

Here is the SPX:

GL traders.  Do your own analysis
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5 comments:

  1. shadow7August 18, 2011 at 7:31 AM

    I think we got the 3 years still coming down the pipe....I think we will be going over a cliff next week.

    ReplyDelete
  2. AnonymousAugust 18, 2011 at 10:49 AM

    shadow and inlet what about gold any thoughts? Looks like a double top?

    ReplyDelete
  3. InletAugust 18, 2011 at 10:50 PM

    Shadow - we will see, I am assuming we saw the bottom of that along with the 9 month cycle. Of course with all the longer cycles aligning to the down side the future looks dismal.

    ReplyDelete
  4. InletAugust 18, 2011 at 10:52 PM

    38dd - watch oil as it seems to now move opposite of gold. It appears oil could set a low short term and if the recent correlations hold and oil moves up gold will move down.

    ReplyDelete
  5. shadow7August 19, 2011 at 12:59 PM

    38dd - GLD I have a temporary top on it at 185.50.

    ReplyDelete

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