Saturday, October 22, 2011

10-24-2011

Who knows what we will see out of Europe by Monday.  Friday may have been the topping of the 34TD cycle.  The only thing I am sure of is the higher we go the neared we are to a top.

Here are the SPX swing cycles:

GL traders.

Note:  Due to a personal situation I will be on the road (out of town) early next week and will not be posting the first part of the week.
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5 comments:

  1. DoctraderOctober 23, 2011 at 12:22 PM

    Inlet,

    I hope you are getting away for some R&R. If not, try to have some fun.

    I think if the S&P can get all the way to 1238, it has 1250 in its sights. Maybe down after that.

    ReplyDelete
  2. DoctraderOctober 25, 2011 at 5:58 AM

    Phil Davis is clearly bullish, believing that 1300 is the target for the S&P.
    TheKeystone Speculator believes we are overbought, and a pull back is needed.
    I am wondering if we are seeing some end of the month "Tape Painting" and perhaps we will see a big thrust upwards in the next couple days before a pullback occurs. Much depends on the pending news out of Europe.

    ReplyDelete
  3. c_kOctober 25, 2011 at 8:13 PM

    Hey inlet, hope all is well with you and that your travels are safe.

    ReplyDelete
  4. InletOctober 26, 2011 at 7:21 PM

    Doctrader - It was not an R&R situation.

    c_k as I told you last week I expected I may have to go to Va. I had a safe trip. After years - the situation is resolved in the only way it could be resolved. The suffering is over.

    ReplyDelete
  5. InletOctober 26, 2011 at 7:27 PM

    If I get a chance I will try and get a chart together and post in the morning. Right now I am beat after driving 9 hours since noon so I am going to bed.

    ReplyDelete

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