04-09-2012 observations

If you looked close at the last set of charts posted you say that as of the end of March (First of April) both the 20 week Wall cycle and 10 week (1/2) Wall were down.  This was enough to cause this past week to be down.  This combination continues this week and expectations are we get a second down week, 

The downside objective is around 1345 (1340-1350) for the week.  The downside for April is lower as the 20 week Wall cycle does not bottom until late April (early May).  Also keep in mind the Kitchin Cycle should start adding some serious downside by mid April.  So a downside of 1300 or lower would not surprise by the end of the month,

We could talk about no new QE by the FED, Spain, or the employment #s - but then the talking heads on CNBC would have nothing to talk about....  Here is a zoomed in chart of the S&P:

GL traders.  Sold 1/5 of my RWM that I bought about a week ago for about a 2% profit.  Starting to get my cost on RWM down closer to current prices.