Saturday, January 7, 2017

Jan 9, 2017 weekly outlook

Looking at last week, you should have bought Tuesday.  The market is whipsawing traders (and I missed that call).  Chartists call the recent activity a mid-cycle move down.    This usually gives us an "M" formation and it appears we have the first 3/4 of that formation. 

If that formation completes then the market will be down in the coming week.  I believe we have better than a 50% chance the week is down.



GL traders

Update:

 

Update Jan 12:

 
update Jan 13:



 

6 comments:

  1. Hi and thanks for all you great work. I see you have moved the 5&10 week cycle bottom to the right a bit vs last week's post. Maybe you are right, as these cycles have to bottom and so far no bottom signs yet. But it is a very delicate and dangerous timing as we are talking about difference in fast down move or fast up move. Being wrong here can be expensive....

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    1. I try to be consistent, but the cycle bottoms do not always align as perfectly as one would like

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  2. Risk is high in a market with PEs like the market currently has.

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  3. Crude oil cycle low should arrive soon, do you have any thoughts?

    Cheers

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    1. https://likesmoneycycletrading.wordpress.com/

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  4. Stock markets that end in 17 seem to have large sell-offs historically.

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