Week Ahead - 2

For the same of completeness, here is how the cyclic picture looks like now. 80 week low is ahead of us sometime. I think maybe b/w now and first few days of Jan. This is my best guess for now. I am however not trading it positionally. Just hit and run.



When we have bigger bearish cycles like this one, its normal for them to extend and that is what is happening right now. Thats why trading rules are needed - to keep us out of trouble. Run your trading like a business instead of blaming your tools and everybody else except yourself :)

Ok. Thats it from me for a while..Holidays, Christmas, New year all coming up..Gonna take it easy for a while.

Have a great Christmas and New Year..Everybody.

Best,
Lee

Week Ahead

Well, last Friday was brutal. No questions about it. I thought maybe market might hold and try to move above 4840. But could not and fell strongly down to 4650 area. It looks bad folks..I dont know what to say. Looking at the cycles, I am again thinking the 80 week cycle is extending and we have new lows ahead of us. For the bulls, the market needs to rally here and now else we are going to be comfortable below 4600 and in that case, lower targets open up..First 4450-4300 area and if that breaks much lower. I dont know for sure I am in kind of limbo right now and cannot be sure of anything. We can go much much lower right here or we need to take support right here and rally upward. So I am not trading anything right now - in wait and watch mode for now. I will review again in few days. I dont have any charts to post today but I will do so in next couple of days. Overall my feeling is - if you dont have a clear opinion or no signal, just dont trade until clarity emerges.

Best,
Lee