Wednesday, May 04, 2011 11:10:38 PM
hi slinky,
I'm done with longs from here for a while. I don't like the look of many other markets while the $SPX has traded to new highs. A 5 and 10 week nest of lows is due later in May (although Sentient is not so sure right now). I may just go golfing for the next few months and shut off the computer. I expect very choppy trading as the markets work towards the next 18 month cycle lows due late this year.
Also it will be interesting to see if we form a high to the 40 week cycle right here so near the 40 week low. That would be bearish once the print low of the recent 40 week cycle is taken out to the downside.
cheers,
john
I'm done with longs from here for a while. I don't like the look of many other markets while the $SPX has traded to new highs. A 5 and 10 week nest of lows is due later in May (although Sentient is not so sure right now). I may just go golfing for the next few months and shut off the computer. I expect very choppy trading as the markets work towards the next 18 month cycle lows due late this year.
Also it will be interesting to see if we form a high to the 40 week cycle right here so near the 40 week low. That would be bearish once the print low of the recent 40 week cycle is taken out to the downside.
cheers,
john
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