The 34TD cycle is down and the 22TD cycle is down. If the 22TD cycle is dominant as I think this gives us a slight down bias from these 2 cycles. The 11.2TD cycle is up and tops by end of day, the 5.6TD cycle is down and bottoms by end of day. These 2 cycles should pretty much cancel each other out. The 2.8TD cycle is up and could provide 8-10 points of potential upside. The 22TD cycle is down and gives us 3.5 or so points of downside. So over all tomorrow should have a slight up side bias. So I expect we again trade in a fairly narrow range and close green.
Here is the SPX swing cycles (my interpretation):
Inlet,
ReplyDeleteJust so you know, Kli made another prediction on the SKF board. He wrote: "Within the next 2 months You will see a violent explosion UPWARDS in Gold and Silver....they may get one more suppression move to 1500s but don't bet on it...."
Phil Davis today pointed out that the NYSE McCellan Oscillator is in the oversold territory. Keystone pointed out the same thing I believe Monday or Tuesday.
I can only watch CNBC for a few minutes in the early morning, but it seemed like they were reporting lots of bad news.
Looks like we will open down this am.
Looks like several of your cycles will bottom in early December. Thus, need to consider taking a long position soon.
Doctrader
ReplyDeleteYeah, looks like I may be wrong on the bias. We will see by end of day. The 22TD and related cycles should bottom by Dec 1, but when you consider we have half a day trading thrown in it may be Dec 2.
What the heck, I put in another limit order for SLW @ 30.50.
ReplyDeleteLooks like the miners are recovering, but maybe there will be a late afternoon dump.