Tuesday, 26 January 2016

1pm update - weekly cycles are turning

With the sp' back in the 1900s, the bigger weekly cycles are warning that the equity bears are going to probably need to wait another few weeks before first opportunity of the next wave lower. The 1940s look very viable this week, with 1970s viable by mid February.




The weekly candle is offering another spike floor, a net weekly gain looks very probable.

The weekly 'rainbow' candle will probably turn blue... and that should clarify that we'll see another 2-3 further weeks higher... but increasingly choppy as there will be selling into any and all strength across the next few months.

For now.. there seems ZERO reason to be short the market.

Arguably, the worse trade right now would be to short AAPL on margin. There appears high risk of the $105/107 zone post earnings.

back at 2pm