I believe we saw the peak of the 22TD and 20 week (Wall) cycles today. We should sell off tomorrow morning and recover some toward the end of the day as the shorter cycles turn up. Here is the SPX swing cycles:
Tuesday, October 18, 2011
10-19-2011 outlook
IBM was light on revenues, INTC beats, AAPL misses. Seems that not all tech companies are going to beat estimates and that will make for an interesting earnings season and probably will not be good for stock prices.
I believe we saw the peak of the 22TD and 20 week (Wall) cycles today. We should sell off tomorrow morning and recover some toward the end of the day as the shorter cycles turn up. Here is the SPX swing cycles:
GL traders. Be careful. Do your own analysis.
I believe we saw the peak of the 22TD and 20 week (Wall) cycles today. We should sell off tomorrow morning and recover some toward the end of the day as the shorter cycles turn up. Here is the SPX swing cycles:
Subscribe to:
Post Comments (Atom)
Phil Davis writes that this is the 4th time since July that the markets are trying to break thru resistance. The volume though with this move is lower, making him feel it is all the work of the Trade Bots. He feels though that the markets could break thru.
ReplyDeleteKeystone feels that although the markets could trade higher, a pull back will occur.
Guess we will find out soon enough.
Nothing conclusive, but a market that was weak into the close (for a change). One more data point that seems to indicate we may have a rolling top.
ReplyDelete