Thursday, September 30, 2010

SPX weekly is close to double Trendline Resistance

SPX weekly is close to double Trend Line Resistance. 
The 63 hourly Cycle (see previous post) was the 1st hour High today.



There is a triple Junction Point of Trend lines at the 12/3 week, right where the next Square from 7/18/06 is due (12/4).
That is where the red arrow is pointing to on the linear chart shown here.

6 comments:

IMRUSMILEY said...

Hi I'm having trouble figuring out what a TL is and a JPTL..can you please provide those definitions?
Many thanks

SPX and NDX TimeandCycles said...

Sorry,

I will change it on the blog as well.

TL = Trendline

JPTL = Junction Point of trend Lines

Benny said...

what is implication of the triple junction into 12/3 ?

SPX and NDX TimeandCycles said...

12/3 week should be an important turning point or acceleration point.

IMRUSMILEY said...

Tx for your quick response. Are you leaning bearish for the current term or bullish?

SPX and NDX TimeandCycles said...

The Master Cycle has yet to top out. that is all I can say for now.