11-23-2011 outlook

I said today should trade in a narrow range.  Check.  I said there should be a slight down bias.  Check.  I said at the end of the day we should be largely unchanged.  Check  (less than 1/2% down).  So pretty much on target.

The 34TD cycle is down and the 22TD cycle is down.  If the 22TD cycle is dominant as I think this gives us a slight down bias from these 2 cycles.  The 11.2TD cycle is up and tops by end of day, the 5.6TD cycle is down and bottoms by end of day.  These 2 cycles should pretty much cancel each other out.  The 2.8TD cycle is up and could provide 8-10 points of potential upside.  The 22TD cycle is down and gives us 3.5 or  so points of downside.  So over all tomorrow should have a slight up side bias.  So I expect we again trade in a fairly narrow range and close green.

Here is the SPX swing cycles (my interpretation):

GL traders.  Do your own analysis.