comments and outlook for 07-08-2011

Missed posting yesterday, sorry about that - was having some back muscle spasm issues and could hardly sit up.  Today I think cleared up some things.  With today's move up I think it is clear the 22TD cycle is no longer in play. 

Now as was discussed some months back when we switched from 34TD (33.75 so it is often referred to as 33TD cycle) is back in play.    If that is the case it may not top before the middle of next week (and would not bottom until in early August.  I have not done the analysis yet, but last time the 33-34TD cycle nested within the 20 week (Wall) cycle which is 100 days or 3X the 33-34TD cycle.  I have never seen the 22TD cycle and 34TD cycle dominant at the same time...  I suppose it could happen.

I have annotated the SPY chart showing this assumption.  The 34TD cycle should be up, the 11.2TD cycle should be up,  The 5.6 and 2.8TD cycles should be down.  This should result in a somewhat sideways day Friday.

Here is the chart:

GL traders.  I hope we are now in sync with the cycles.  We will know in the next 4-5 days, but should have hints along the way.