Thursday, February 11, 2010
Intraday CITs review and the current bias
The 5 min intraday geometric CITs (Change in Trend, ie Highs or Lows) in the last few days are marked with arrows on the 5 min SPX chart. Intraday 5 min CITs for 2/11 are: 10.05 and 2.05 pm EST (red vertical lines in the chart).
Furthermore, for a week now, I have had an hourly CIT in the 1st hour today 2/11, the 5 min of that CIT came at the close 2/10. There is also daily NDX CIT on 2/12 and a Solar CIT on 2/14 in the weekend. The speculative bias is we make a Low in the 1st hour today, which may have arrived at the close yesterday and rally into 2/12-14 CIT, as Monday is a Holiday, 2/12-16 High.