Comments and outlook for 07-21-2011

Well, it was a dull day.  Thought we might push a bit higher - and at times today it looked possible, but we closed down slightly (I'd call it a flat day).  Given AAPL's results you would have thought the techs would be up, yet the NAZ was the worst performer.  INTC had good results which may support techs tomorrow....

Tomorrow we have the 2.8TD cycle bottoming and the 5.6TD  topping.  The 11.2TD cycle is up.  So is the 22TD cycle.  The 34TD cycle is down.  The 20 week and 65-70TD cycles are down.  I believe the cycles largely offset giving us a neutral bias.  So I expect movement in a fairly narrow range (now that I have typed that we get a big move up or down).

Here is a visual using SPX:

GL traders.  Do your own analysis.  Short any big move up?  Buy any big move down?

Update - chart from Shadow: