weekly outlook Aug 28, 2017

As expected the formation of a bottom is taking time, but should be about finished.  If so next two weeks may see a bounce  into mid September.  After that some more pullback is possible (see Bradley Siderograph posted in August).  Too early to make a call......

GL traders

Week of Aug 21 outlook

Nested  bottom forming, may take 1-2 weeks to complete bottom and then a small bounce?

 

GL traders

Month of August 2017

Weekly chart showing longer cycles.  Bottom (weekly cycles) may be in (or should be soon).  Appears this correction will be 5% or less.  Of course, that could change  depending on Trump/NK and threats over the weekend.

Daily cycles appear to show bottom may be in but likely bottom will complete during the week.

Even shorter cycles here:

The 12 1/2 days cycle is made up of 3 4+ days cycles:

GL traders

Weekly outlook for Aug 7, 2017

Corporate earnings looked good for the quarter.  Friday's employment numbers were good.  But there are also negatives as some 9,000 retail stores are set to close over the net few months (not all of this is Amazon, partially due to very skinny pay increases, or increased debt due to lots of Autos being sold last two years).  And auto sales are now flat to down (not a good sign for the economy).  STILL the market inches higher.

Appears we will get an extended 9 month cycle into late August or early September (at least?).  But, you can never be sure about what the market will do.  We could still get a 5% or more slide next week, so watch for a trigger......

GL traders