Friday, October 14, 2016

Weekly outlook Oct 17, 2016

I told you last week: "A mid cycle dip as the 5 week cycle bottoms and the 10 week cycle tops.  Possible mid week low because of this mid cycle dip. "  I believe that is a fair description of what happened during the week. 

Now we have the 5 week cycle up, but the other cycles (10 week, 20 week, 9 month)  are down.  So  the total evidence suggests a down week.   The fact that the past week's dip (SPX 2116)  was lower than the prior  dip (2119)  combined with two weeks  down suggest a change in  trend has taken place.


GL traders

Posted by at

5 comments:

  1. BETOctober 17, 2016 at 1:21 AM

    Grazie Intel, perfetto come sempre

    mi sai dire dell'oro? da tuo grafico ribasso, corretto?

    ReplyDelete
  2. InletOctober 17, 2016 at 9:44 AM

    BET, got lucky and guessed right.

    Best guess is gold is bottoming, Might want to take a partial position (20% of final investment) on a move up of 1-2%.

    I am looking to buy another $7,500 of physical silver soon. I prefer the physical metal. Silver because of lower value per ounce could be used in place of fiat paper currency.

    This is insurance (not for trading).

    Good Luck

    ReplyDelete
  3. UnknownOctober 20, 2016 at 6:49 PM

    Hi Inlet, thanks for keep updating market outlook and it is helpful. Can I know how about crude oil market outlook? Thank you.

    ReplyDelete
  4. InletOctober 21, 2016 at 5:35 PM

    Wong Tingfoong - posted chart for $WTI (West Texas Crude oil). Hope it helps.

    ReplyDelete
  5. UnknownOctober 22, 2016 at 3:16 AM

    Hi Inlet, I appreciate your post. It really helps :) Recent fundamental news would not help oil price to push further.

    ReplyDelete

Subscribe to: Post Comments (Atom)