04-23-2012 the week ahead

I told you last week to expect a sideways week with a slight upside bias.  Even though there was a lot of movement at the end of the week that is what we got.

It appears the short cyle (1/8 the Wall cycle 12-13 days) topped and turned down.  The 1/4 Wall cycle remains up.  The Half Wall and Wall cycle are down.  Also the Kitchin cycle should be entering a hard down phase.

Over all it appears we should have a down week, and I suspect we may test recent lows and potentially head lower after that.

Here is a visual:

GL traders.  I will probably not be posting for a few weeks.  The market should be in correction mode the next 4-5 months.  There will be bounces, so be careful.