Sunday, November 17, 2013

nov 18, 2013 weekly outlook

The market continues up.  As I have commented in the past RIGHT translated cycles (top past mid cycle) occur within a rising trend.  And the last 3 intermediate cycles have been right translated.  So until proven otherwise the market is in a rising trend even though I anticipate a top in the near future.

I also mentioned last week I expected sideways to up action this past and current week.  Last week we got upside action, so this week stands an improved chance of some downside action, but overall I expect sideways without much upside or downside action.

The Wall cycle should have topped and turned down.  The Half Wall cycle bottomed and is up (as did the Qtr Wall cycle) which offsets the Wall cycle (hence the sideways expectation).

Here is a visual:


GL traders
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2 comments:

  1. Trading SunsetNovember 17, 2013 at 9:35 AM

    Short term peak..early December..then a touch of weakness...with a likely 3-5 down wave Jan/Feb.

    Intermediate top..target remains....late April/May.

    Then a 20% drop...
    --

    Have a good week...cycle pro :)

    ReplyDelete
  2. InletNovember 19, 2013 at 7:45 AM

    Seems reasonable. The market is not always reasonable. Keep wondering when FED QE loses it effectiveness vis-à-vis Japanese and European easy money policies....

    ReplyDelete

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