It appears that the longer cycles I generally follow (Kitchin, 1/3 Kitchin, and Wall cycles) are down. The shorter cycles (1/2 Wall and 1/4 Wall) are up. With these cycles offsetting in the coming week we probably will see some up days mixed with some down days with a slight down bias for the week. It now appears the longer cycles have assumed dominance.
Here is a visual:
Weekly view:
GL traders
update 2/5/2014 (Hurst cycle charts):
By late Feb' the lower weekly bollinger will be around 1730/40..so...if we're around there, we might hit it.
ReplyDeleteA hit of that..would - in my view, confirm 1850 as a key intermediate'3 top.
A bounce..probably 75/100pts..then a rollover in April..with a possible collapse wave similar to 1998/2011.
Its just an idea..but..hell, we all know we're due at least some kind of major pull back after 2.5 yrs of effectively straight up.
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Have a good week Inlet.
seems we are overdue for a correction of 8-10%. And if we get that then we will see..... Of course as you know nothing is ever sure in the market (we always come up with explanations after the fact, before the fact not so much every time)
Deletesome up days, some down days for the week. I guess Friday with payroll decides the week, but as of now the week has a downside bias as suggested above.
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