Wednesday, September 2, 2009

Review of the Master Cycle

In my 8/26 post, the Master Cycle (MC) was looking for an 8/25 swing High (1st chart).

Result: We did see an 8/25H with a retest on 8/27H, before we declined strongly into today's Low (2nd chart). The MC was looking for a decline into 9/1 Low.

The decline spilled over into this morning's Low. I had an hourly CIT in the 1st hour today, confirming a potential Low.

On the intraday trading Level, I had a 5 min CIT today at 10.35 am, which was the Low of the day (Sofar).

We need to rally above the 1000 Sep SP Resistance to get a 1st confirmation that the Lows are in, then 1005 and 1009.45 (38 and 50%) Sep SP

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