Today was up as expected. Stronger rise than I would have guessed. Still I said yesterday "but will not stop an upturn if indeed the shorter cycles are up". Tomorrow we get the job #s for October. Usually this number can move the market. Recently I believe it has moved the market down. This is the news on deck before the market opens. Of course - the so called experts have trouble predicting the # so don't expect me to try.
Two of the swing cycles should top by mid day. Given most of the swing cycles start the day up it seems we may get some push up early, but it should be over by/before mid day. Looking at our chart you see the potential for an H&S pattern as the 5.6TD cycle turns down for 2.8 days. So is the 5.6TD cycle going to give us a nasty little sell down starting tomorrow and running through Tuesday? Looks possible.
Here is the SPX swing cycles (my interpretation):
GL traders. Do your own analysis and be careful.
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