Outlook for 08-09-2011

I told you in my general disclaimer - at times I might miss something or misinterpret data.  It appears that I missed something and/or misinterpreted the data.   At this time the shorter cycles are having little or no influence.   So I took at look to see what I was missing in the intermediate length cycles,  So I reviewed some information on Gann and was drawn to the 270 calendar days as a potential cycle to investigate (this BTW is about 9 month or 40 weeks or 200TDs  - 2X the 20 week Wall cycle). 

With this in mind I looked at a chart of the SPX.  Here is what I discovered:

As a result of my investigation I believe the 9 month and 20 week cycle are bottoming together.  Based on amplitudes it appears this bottoming may be near completion.  So we may have bottomed or may bottom during the week. 

GL traders.  Sorry I missed the potential influence of the 9 month cycle.

From shadow:  http://tinypic.com/r/2ef17ba/7

Gann liked division by 8.  1/8 = 12.5% and .125 x 1370 =  171.25 and 1370 - 171.25 = 1198.75 target.