Thursday, August 25, 2011
Cycle Review and Update
Since my last Cycle update and review on this blog on 8/5:http://timeandcycles.blogspot.com/2011/08/quick-review-cycles-and-trapdoor-to.html
1. The markets were expected to bottom out on the 8/8-12 week, which it did on 8/9 Major Low
see the 8/11 blog post "7 reasons for the Low to be in this week"http://timeandcycles.blogspot.com/2011/08/alert-7-reasons-for-low-to-be-in-this.html
2. Cycles above (click on chart to enlarge) then suggested an 8/16-17 High and a sharp brief pullback retest Low into 8/18 Lows, which was the 8/22 Lows. From there we were expected to rally into 8/24 High. I had an hourly CIT at the close 8/24, which was the High at the Open today.
3. What is next? Cycles are mixed as to what to expect as alot will depend on the next timing CIT coming up by this weekend. I have a double geometric CIT due on 8/26-28 and Mercury goes Direct on 8/26, it should be important to watch. (The rest is reserved for subs)