Odds In Favor Of Bulls



This looks to me like a very controlled and deliberate move in the equity markets. We had a 100 point move in the first 15 days of this Daily and Investor Cycle, so obviously it has taken some time to consolidate those gains. Coming into this past weekend, I was not satisfied in taking a long position on the daily chart because I was concerned that a real Half Cycle Low was not evident.

But it now looks like the weekend outlook for a further drop and Half Cycle Low has played out. On a shorter timeframe, sentiment has cooled slightly, while technically the S&P is now back to a position that has in the past spawned many a Cycle rally. With such a dominant long term trend behind this market, and being the 1st Daily Cycle, this 35 point retracement in the timing band for a HCL is certainly a great candidate for yet another “buy the dip” trade.

9-10 Equities Daily

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