Cycles are a tool and should not be used to the exclusion of other tools. There is always the possibility (high probability long term) that the data will be misinterpreted or a relevant fact over looked. So use cycles to check your analysis, not as the only reason to make a decision. Interpretation is the opinion of the author and may be incorrect and should be viewed in that light.
Saturday, May 7, 2016
Outlook for week of May 9, 2016
The 20 week cycle should by now have strong downside momentum. The 5 week cycle is also hard down. Expect another down week for the week of May 9. OLD SAYING: "sell in May and go away" may prove out.
Nothing seems to be able to knock this market down, not crap job report, not bad news from China, not bad news from EMs nor Japan! Either the PPT is mandated to have every tick higher if at all possible until post election, or this market's got more juice and a goosing from the Fed is all its waiting for.
Boy, given the lack of conviction in the down move over the last week, I think we might see all time new highs very soon!
ReplyDeleteNothing seems to be able to knock this market down, not crap job report, not bad news from China, not bad news from EMs nor Japan! Either the PPT is mandated to have every tick higher if at all possible until post election, or this market's got more juice and a goosing from the Fed is all its waiting for.
ReplyDeleteOften seems that way, but just when you lose patience the market surprises.
ReplyDelete