Tuesday, September 6, 2011

Intraday Review of the Make or Break day

At the T&C Forum (http://www.timeandcycles.com) early this morning,  I mentioned in the Live chat (http://www.timeandcycles.com/board/chat/) that the Low was most likely in,  as Major channel support held right at the opening Gap and at the 78.6% retrace

"09:37:00 ‹RajaCar› Possible Low is in
09:41:18 ‹RajaCar› Often, when you get these huge Globex down nights, everyone gets beared up and the 1st 15 minutes will be the Low of the day. Today is also a Low am to High pm day, so we'll see.
09:41:58 ‹RajaCar› and yes, we also hit channel support and that 78.6% retrace level"

The intraday speculative path was the Cyan Lines, the vertical red lines was the intraday Change in Trend (CIT) times (click on chart to enlarge). Notice the 10.40 CIT was the retest Low of the day.

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