Friday, May 11, 2012

Review of the last week and what's next?

From last weekend's Email: "The MC1 predicted a 6 TD (trading days) rally from the 4/23 Low into 5/1 High and now suggests lower lows into 5/8-9L. From there we should rally into OE week"

Actual: We saw from the 5/1 High, a sharp decline into 5/9 Lows. 

What's next? Globex futures suggests another strong down opening into today's 5/11 Solar CIT and 3/25/11 Symmetry Cycle Low (click on chart to enlarge). It will be  interesting to see if we make a lower or Higher Low wrt to the 5/9 MC predicted Lows. All bets are off for next week's Option Expiration week, if we do make sharply lower Lows today, it should be fun to watch.

1 comment:

Tyler said...

Hi Raj,

Was this the sharp pullback you were predicted 2 weeks ago and we are heading higher (taking out previous high of 1422) from here? Also, do you have any comments on GOLD? thanks.