Thursday, October 18, 2012

10/17 High and Wedge Target achieved

From this last weekend 10/12 report: "We have declined into the 10/12-15 quadruple Time Cluster CIT suggesting a Low is forming. We can see a spillover decline into Monday 10/15 CIT. We should then see a rally into OE week." 

Actual: We saw an 10/12 major Low and an 10/15 Globex Low, before a sharp rally.



Monday 10/15 intraday Update: "So far so good. We rallied above the bullish descending wedge DTL and 1433 SPX confirming the 10/12 triple CIT was the Low.We should now rally into 10/16-17 Solar CIT High.  The current bias basis CITs: rally into 10/17H at 1st hour CIT, decline into 10/19L at last hour CIT"

Tuesday 10/16: "There is a descending triangle target around 1457-59 SPX, right at the 70.7% retrace."



Actual: We rallied right into 10/17 High, achieving the projected 1459 SPX Wedge Target and closed right below the 78.6% retrace at 1460.91 SPX. The intraday High was achieved right at the Apex (yellow) of the descending wedge, suggesting atleast a short term 10/17 High.

What's next?: We should make a decline into the next geometric CIT due on 10/19. There is an hourly CIT due in the last hour of Friday 10/19. The intraday Cycle today 10/18 is a "Low am to High pm" day, which suggests a 1st hour Low and a last hour High (see chart above).

6 comments:

Fibocycle said...

One Word: AWESOME!

qichengm said...

Hi,

Could you please tell me how to subscribe your service to get realtime update.

Thanks,

GB2009

qichengm said...

Hi,

Could you please tell us how to subscribe your service to get realtime update.

Thanks,

GB2009

Raj Time and Cycles said...

Thanks Fibocycle, that was very kind.
;0)

We are seeing a Low am to High pm day,we saw a 10.25 Low, we should now see a last hour High.


GB, you can go here for more info:
http://www.timeandcycles.com/premiumservices.html

Raj Time and Cycles said...

[img]http://3.bp.blogspot.com/-X0bTb58Lmgc/UIA-WR2keTI/AAAAAAAASpY/KKj34KYL6kk/s1600/5+min+SPU.gif[/img]

Markets are following the intraday pattern: 12.05 Midday High, 1.20 Low (in progress)

The 12.40 CIT was a 12.30-35 High, before Google earnings came out.

Raj Time and Cycles said...

http://3.bp.blogspot.com/-X0bT...SPU.gif

The normal 1.40 cycle intraday Low arrived an hour late at 2.45 Low indicating weakness (due to Google earnings) and suggesting a weaker (lower) last hour High. I am still expecting the market down into 10/19 Low.