comments and outlook 05-05-2011

Today was almost exactly as I projected.  Bottoms should have occurred for the 3 shorter cycles (11.2TD, 5.6TD and 2.8TD cycles) as the 22TD cycle has now turned down.  Since the shorter cycles turn quicker and happen over shorter periods the bias should now have turned up.  I do not expect a large up day tomorrow, but we could recover half of today's loss, so I do expect tomorrow to be biased to the upside and a green day.

Here is a visual:

GL traders.  Do your own analysis, today I bought the dip to establish a couple of positions.