In a previous post (http://timeandcycles.blogspot.com/2010/10/explosive-week-ahead.html) , I noticed that there was a Time and Cycle cluster in the FED week, the 1st week of November, which could have been the 10/27 Low or the 11/5 Mahalaksmi Day High.
Here are 3 cycles that supports the 11/5/10 High, the last 2 were posted by Peter at the T&C forums:
1. 77-80 wk cycle: 10/25/04L-80w-5/8/06L-77wk-10/31/07H -2X78.5 wks = 11/5/10H
2. 95 TD Cycle: 5/08/09H -95- 9/23/09H-93-2/5/10L -95- 6/21/10H -96- 11/5/10H
3. 1519 TD/6 Yr Cycle: 10/5/92L-1519-10/8/98L-1519-10/25/04L-1520-11/5HThey say the trend is your friend, but what does that really mean? Here are some clues:
Since the late August Lows, we have had 5 corrections (Cyan lines in chart), lasting 1-2 TD:
1. 08/27H-08/31L = 24.33 SP's
2. 09/21H-09/23L = 25.80 SP's
3. 09/30H-10/04L = 25.29 SP's
4. 10/18H-10/19L = 25.82 SP’s
5. 10/25H-10/27L = 24.40 SP's
The Main Rules to have a real Change in Trend to down (which means do not short this uptrend aggressively until then), is the decline should last longer than 2 TD and must exceed 26 SP’s.
This means any decline is limited to 1201 SPX (26 SP’s from the 11/5 Highs) and 2 TD and If it is more, then the
We are currently more than 2 TD down and have surpassed the 1201 SPX at least in the Globex, this indicates an important CIT is in the works. Also NDX, the leader closed below its Major uptrend Line. Globex took out the 1201 Critical support area and was as Low as 1193 Dec SP, which is around 1195 SPX.
Often, though not always, the Globex Lows gets retested during the regular trading session, so we'll see. For now here are today's intraday Times and cycles:
Often, though not always, the Globex Lows gets retested during the regular trading session, so we'll see. For now here are today's intraday Times and cycles:
Intraday 5 min CIT (Change in Trend) Times 11/12/10: 10.05, 11.40-12.45 hourly*, 12.20, 2.55, 3.15 pm Eastern
Intraday Cycle: 10.30H, 11.15L, 12.30H, 2.00L, 3.40H
There is an hourly CIT today at 11.40-12.45 pm that should be important.
The next few weeks should be more interesting and exciting than the last 7-8 weeks.
The next few weeks should be more interesting and exciting than the last 7-8 weeks.
2 comments:
The 10.05 CIT was the 10.00 HIGH. Markets are cracking
The 1.05 Low may have been the 12.45 hourly CIT Low, as it was right at Key support area.
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