Outlook for 09-01-2011

I said in last evenings posted I felt at the end of the day the bias would be neutral.  We were up, but not by much (I'd call it neutral).  Looks more and more like a topping process. 

Of course the first couple of days of the month we normally get inflows from IRAs, 401Ks and pensions.  I expect tomorrow will reflect this, but I doubt the inflows will be enough to make a huge impact.  Still it could result in some up side push.

The 34TD cycle is down.  The 22TD cycle is up for 2-3 more days.  The 11.2TD cycle is down.  The 5.6TD cycle is topping and the 2.8TD cycle is bottoming tomorrow.  When you add it all up the bias continues to be neutral.  We may well test today's high again, but by the end of the day the market should be little changed.

Here is the SPX swing cycles:

Gl traders, be careful and take some profits off the table...

Bonus info - crossing of SMAs:

Yes, I look at things in addition to cycles and so should you.