Saturday, December 20, 2014

Weekly outlook for dec 22, 2014

The bounce definitely had more vigor than I expected, but I would guess I was not alone.  This short cycle is topping (may have topped) in  the very near future.  SPX could set an intra-day high early in the week.  Given it is a 4 day week the week could close up for the week, but I expect it to show downside tendencies by the end of the week.  Given recent volatility any move could be significant.

Here is a visual:


For swing trading we generally look at shorter cycles like the 13-17  TD cycle and get too fancy with our charts and analysis.  Maybe we should KISS (Keep It Simple Stupid) like this:



 
GL traders

update 12/23 - As suggested the averages set new highs here in the first part of the week.  May have some upside left before Christmas??

update 12/24 - today the DJIA was up most of the session, but closed only slightly higher and SPX was slightly negative.  What one would expect if a short term top was being made....
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3 comments:

  1. UnknownDecember 23, 2014 at 6:27 AM

    Hi ,

    I discovered your works a few months ago and I find it very interesting . This concept of cycles is great and I'm sure it's the best way to be in the right direction whatever happens to the market .
    I'm just wondering one thing . How do you create your differents cycles into your charts ? I use Stockcharts , but I can't find this particular tools......?
    Thanks for everything ...

    Do

    ReplyDelete
  2. InletDecember 23, 2014 at 7:12 AM

    Under "annotate(flash") use the line cycle tool about halfway across tools at top of chart. If you place arrow over that the "drop down" shows a "sine" and "circle" instead of "lines". Select one of these two options.....

    ReplyDelete
  3. UnknownDecember 24, 2014 at 3:00 AM

    Thanks a lot ! Don't know why I haven't seen this before .....

    Merry Christmas to you and all your Beloved Ones !!!!

    Do

    ReplyDelete

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