outlook for 08-19-2011

It appears the 22TD cycle finally made itself known with a vengenance.  As I mentioned in my last post - it is OPEX and anything is possible.  Seems we got a delayed reaction to events in Europe.

So what happens tomorrow.  This morning seems to have set a bottom for all the shorter cycles.  We see for sure tomorrow.  As I have commented before the 22TD cycle may actually be 22+ days (22.50TDs) so bottoming today is not totally unexpected.  The fact we did not see much of a recovery by day's end leaves tomorrow questionable.  Still with all the shorter cycles (22TDs, 11.2TDs, 5.6TDs and 2.8TDs) turning up there is a good chance we will see an up day.

Here is the SPX:

GL traders.  Do your own analysis, very volatile market.