Outlook last week was off somewhat as market ended lower at the end of the week. I have been questioning if use of the 23 day cycle is appropriate. JM Hurst stated that there could be an 11 day and 23 day cycle or alternatively a 17 day cycle (note - 17 day cycle is 1/2 the 34 day cycle). Based on recent data over the past 6-7 months using a 17 day cycle may give a better fit of the data, so I am switching to a 17 and 34 day cycle combination for the shorter cycles.
The 34 TD cycle and 17 TD cycle offset, but since the 34TD cycle is more dominant the total result from these 2 cycles is an upside bias. But we have the Wall cycle and the 1/3 Kitchin cycles now down so I expect sideways movement within the lower half of the envelopes below.
Jun 26 - 2:40 pm EDT: Time to sell?
Inlet,
ReplyDeleteAre you ready to predict a bottom? Some are saying the S&P could drop all the way to the 200 day, but I am wondering 1550.
Still holding my RWM.
Looks like market weakness thru July. a correction (down 10%) at least before we see a bottom. Will try to post July outlook soon.
ReplyDelete