Sunday, November 20, 2011

11-21-2011 outlook

I thought we would see more volatility Friday (a wider range with it being OPEX).  Still we traded within the range expected.  I speculated we would close red (hey, I was partially right - a mixed close). 

Monday we should see the 34TD cycle bottom.  All the other shorter cycles except the 11.2TD cycle are down.  Given the Wall cycle should be down and probable dominance of the 22TD cycle Monday should have a down bias.  To reach the expected amplitude of the 34TD cycle (top to bottom we could trade as low as the mid 1190s) we need 20-25 points of downside.    Once the 34TD cycle bottoms we may see a bounce later in the trading day.

Here are the SPX swing cycles (my interpretation): 

GL traders.  Do your own analysis and be careful.  
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5 comments:

  1. DoctraderNovember 21, 2011 at 6:41 AM

    The selloff continues, thus perhaps setting up a Christmas rally.

    I have been watching SLW which had another big drop this am. Might take a chance soon & buy some.

    ReplyDelete
  2. InletNovember 21, 2011 at 8:03 AM

    Looks like my call for mid 90s was optimistic.

    ReplyDelete
  3. DoctraderNovember 21, 2011 at 8:40 AM

    Just put a limit order in for some SLW @ 30.50.
    She is she hits.

    ReplyDelete
  4. DoctraderNovember 21, 2011 at 8:47 AM

    Guess I can't eat an apple & type at the same time.

    Should say: "See if she hits"

    ReplyDelete
  5. InletNovember 21, 2011 at 2:26 PM

    Doc Trader - good luck. Bailed on part of my QID position this AM.

    ReplyDelete

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