Monday, October 25, 2010
Review intraday forecast today and what's next for tomorrow
If we see positive Globex then we see a 1st hour rally High and sell-off the rest of the day. many do find it useful to know that 1st hour High or Low will be reversed the rest of the day
Other Cycles suggest we close near our Lows Monday and suggests a High am to Low pm day instead. Globex futures are Up, which suggests we should see a 1st hour High of the day and then a decline to a last hour Low of the day. In "High am to Low pm Days, often (though not always) the High of the day is in the 1st hour and the Low of the day is in the last hour"
Intraday Cycle is biased to be a High am to Low pm day: 10.30H, 12.30L, 1.30H, 3.00-30L
Actual: 10.00H (1) in the chart), 12.25L (2), 1.35H (3), 2.45L (4)
The 2.45 Low came 15 min early, which is a sign of bullish strength for tomorrow, which is biased to be up at least in the first hour or so.