Review: “Intraday 5 min SPX Time CIT 12/16/13: 10.50, 11.25*, 12.00 pm Eastern”
Actual: 10.55 High, 11.30 High, 11.55 High
Review: “Intraday Cycle is the Cyan lines: (9.40H), 10.30L, 12.45H, 1.40L, 3.30H
Actual: 10.05HOD, 11.05L, 11.30H, 1.10L, 2.10H, 4.05L The intraday cycle saw a High am to Low pm day, with a 1st hour High and last hour Low.
Forecast Tuesday Dec 17:
Intraday 5 min SPX Time CIT 12/17/13: 9.35, 10.30, 11.25, 3.45 pm Eastern
Intraday Cycle is the Cyan lines: (9.40L), 10.00H, 11.00L, 12.30H, 2.30L, 3.50H
Tuesday sees a possible 9.40 Low at the 9.35 CIT, rally to a 10.00 cycle High at the 10.30 CIT, decline to a 11.00 cycle Low at the 11.25 CIT, rally to a 12.30 cycle High+/-30, decline to 2/30 cycle Low+/-30, rally to a 3.50 cycle High at the 3.45 CIT.
Notes: The intraday cycle Tuesday sees a 1st hour High and a normal bias to be higher, but we need to get above the 5 min downtrend line at 1790 SPX to get a stronger rally going. OE week often messes with the cycles and as Monday was an Up day, tomorrow will tend to be a down day. Rarely do you see back to back Up or down days. We do need to see a follow through rally to confirm the Lows are in.