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:
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:
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:
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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....
ReplyDeleteI try to be consistent, but the cycle bottoms do not always align as perfectly as one would like
DeleteRisk is high in a market with PEs like the market currently has.
ReplyDeleteCrude oil cycle low should arrive soon, do you have any thoughts?
ReplyDeleteCheers
https://likesmoneycycletrading.wordpress.com/
DeleteStock markets that end in 17 seem to have large sell-offs historically.
ReplyDelete