The September Month is seasonally normally the weakest month, but the market ignored this so far as we have been straight Up (SU) since the 9/2-3 Master Cycle (MC) Lows.The trend every month since Jan 09 into August 09, was to expect a High or Low between the 6th and the 11th of each month. Not so this time, as we rallied beyond 9/11.
Even the Master Cycle (MC) was faded as the MC was looking for a 9/2 Low and a rally into 9/11-14 MC High. OE week rallied beyond this date into a 9/17 high.
Ideally, we see some pullback into next week, before the rally resumes, with 1052-55 SPX as 1st support and 1033 SPX as Major support.
No comments:
Post a Comment