Saturday, July 28, 2012
Cycle Update: 7/19 High, 7/25 Low
From the previous post: http://timeandcycles.blogspot.com/2012/07/cycle-update-712l-719-20h.html: "The next couple of weeks should be interesting to watch and will determine the direction of the next couple of months afterwards."
From last weekend's 7/20 Email: "The 3 active cycles, so far agreed on the 7/3H, 7/12L and 7/19H and all agree we see at least a 7/25 Low, where the 10 TD Hurst cycle Low is due, but then these cycles diverge."
From the 7/25 daily Email: "The 7/23 Solar CIT and 7/25 geometric CIT could have been a 7/24 Low... The speculative path indicates July 25 Low and up into XXX"
Result: The markets saw a 7/24 Low of the week, fulfilling the 7/23 Solar and 7/25 geometric CIT. Globex was lower on 7/25 and reversed strongly the rest of the week.
The rally was stronger than expected, but remains within a large 60 SP sideways channel since the 6/19 High (see SPX Daily above), for the last 5 weeks now, with major channel resistance at 1392-1396 SPX in the coming week.
In the mean time, 2 cycles remains dominant with the 7/24-25 Low. The coming week will be most interesting to watch closely as very large moves are forecasted by these 2 dominant cycles.
Posted by Raj Time and Cycles at 10:18 PM