As mentioned in my previous 12/2 post, the Master Cycle is active again with 5 Hits and was looking for higher Highs above the 11/5 Highs, which has now occurred. So what's next?
There are 2 dominant Cycle that I am watching, one is my Master cycle that has us generally higher into January and March 2011, before a larger correction takes place. The other is the Major cycle that has been in the market for the last 6 months and is due top out soon. It will be interesting to see which one is more dominant.
There is one very long term cycle I mentioned on the T&C forums and elsewhere that tops out today, 12/7/10. I don't think this is the dominant Cycle right now, so here it is:
The 29,455 CD Cycle:
1. 09/03/29 Major High = 04/26/10 High
2. 11/13/29 Major Low = 07/06/10 Low (Actual 07/01/10L)
3. 04/16/30 Major High = 12/07/10 High
We will see if this one works or not, the current bias is the Master Cycle will be correct and we see higher Prices into next year.
2 comments:
There are plenty of reasons for a Top here:
1. 29,455 suggests 12/7 cycle Major high.
2. VIX is at long term support
3. Merlin has today as a High
4. Parker has today as the MFI High
5. Al's Xtides has a High today as well
BUT the dominant cycles are suggesting higher, so we'll see, which will be correct.
Thanks......Keep up the good work
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