Outlook for week of July 1, 2013

I don't suppose the markets are closed in the US for Canada Day, but is closed Thursday for Independence Day.  So that gives us 4 trading days for the week.

The market traded a bit higher than I would have thought last week, still it was mostly in the lower half of the envelop channel.  Looks like most indicators are neutral (RSI - in the middle between overbought/oversold; ditto for ROC; and other indicators).

Looks like a sideways week.   Tried to detail cycles a bit more to try and show the influences the market faces for the week with up cycles and down cycles off setting. See the chart below.