Here is the SPX Swing cycles:
Wednesday, October 19, 2011
10-20-2011 outlook
Nothing is ever certain in the market, but today added to the picture (one more data point) of a top that is rolling over. If that is the right picture then I would expect a couple of moderately down days as the 22TD cycle and 20 week (Wall) cycle gain some downside momentum. Then by Monday we get no plan (or a crappy plan) out of Europe and we could get a strong down day. This is the picture I believe the cycles are suggesting at this time.
Here is the SPX Swing cycles:
Gl traders. Do your own analysis.
Here is the SPX Swing cycles:
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Phil Davis has blocked his main article for 48 hours every day this week. Usually, he allows 1 or 2 a week immediately to the public. I get the impression though that he feels we will be trading in the same ranges for now. He does not believe the Trade Bots can alone push us through resistance.
ReplyDeleteThe Keystone Speculator had a bearish tone today.
Trader Dan yesterday wrote that it appears that the metals failed to push through resistance and thus could trade back down to support.
Seems to me there is really nothing out there to get large numbers of retail investors to buy back in. I don't know if a solution for Europe will be enough. Seems to me a coordinated effort from all the Central Banks & Goverments is needed.
My SDS calls have been down, then up, then down, and then up--but now down in the pre-market.