I have been watching closely market action to see if it comfirms expectations given my current view of the cycles. So far this week I have seen nothing to persuade me that I have it wrong.
Here are some thoughts. The 66 day cycle has about 8 days to its peak (about 25 days from its bottom). View this as a sine wave that starts up slowly (first 8 days or so) to its point of maximum upward momentum. Say maximum momentum is days 9-24 and then momentum begins to wane days 25-33. It would now be in a period of waning momentum between now and March 23 its expected top. On the other hand the 33 day cycle is down about 5-6 days and should be approaching maximum downward momentum for the nexy 5-6 days. In total I would expect we may get some downward bias the next 5-6 trading days.
Don't misinterpret me - I don't expect much upside or downside action as we continue to trade in a narrow range like this week so far.
Here is a pictorial of the 5.5, 11 day, 33 day, 66 day cycles:
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