The 34TD cycle is up. The 4.6TD cycle is up. The 22TD cycle, 11.2TD cycle and 2.8TD cycle are down. Also it appears there are longer cycles down and at work, so I expect we continue to see weakness in the market. This should continue until Dec 1/2.
Here is the SPX swing cycles (my interpretation):
The Keystone Speculator today showed various indicators that show the markets are oversold & due for a bounce. However, Keystone felt that any bounce or rally would be quickly sold. Also, Keystone feels that Gold could sell down to the 1500 range. I found this interesting since Kliguy mentioned the 1500 figure a couple days a go.
ReplyDeletePhil Davis feels that the markets have been "punished enough", but feels that it is best to play it safe. He feels that Monday could go "either way". He commented that Japan could lose its AA- rating.
Today is a short trading day and the volume will likely be low anyway since post-holiday. So, the bots could really push the market around.
I think if the markets sell off big today, maybe I will take a chance and play for the bounce.
Black Friday shopping turns violent.. Up to 20 people injured. Shopping. How good were those sales anyway? Is deflation in non-essentials happening before our very eyes?
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