Intraday 5 min SPX CITs 2/10: 10.30, 12.55, 2.35 pm Eastern, all +/-5-10 minutes
Intraday Cycle 2/10: (9.40L), 10.30H, 11.15L, 12.20H, 2.00L, 3.40H Eastern, all +/- 30 minutes.
Bias is we see a Bullish Up day today and if by Noon we are higher than the 1st hour High, we have an 80% chance we see a last hour highest High. Tomorrow is biased lower.
11.00 am Eastern Update:
11.00 am Eastern Update:
Good Morning,
All eyes are on Janet yellin's semiannual HUMPHREY HAWKINS testimony today and tomorrow since 10.00 am.
http://www.bloomberg.com/markets/economic-calendar
Intraday Cycle is the Pink lines (9.40L), 10.30H, 11.15L, 12.20H, 2.00L, 3.40H
Tuesday sees a possible 9.40 cycle Low+/-, rally to a 10.30 cycle high at the 10.30 time CIT, decline to a 11.15 cycle Low+/-30, rally to a 12.20 cycle High at the 12.55 time CIT, decline to a 2.00 cycle Low at the 2.35 time CIT, rally to a 3.40 High+/-30.
Daytraders: The intraday cycle sees a 1st hour 10.30 High, midday High and last hour High.
We gapped higher to a 10.35H, above the up channel and 1873 SPX resistance and have since retraced to 1863 SPX.
If we see a higher Midday High, above 1881.60 SPX, it indicates strength and we will have a (normal) 80% chance we see a last hour Highest High.
If we see a lower Midday High, below 1881.60 SPX, it indicates weakness and suggests we see a last hour lowest High and lower Low.
Intraday 5 min SPX CIT Times 2/10/16: 10.30, 12.55, 2.35 pm Eastern
Actual: 9.45L, 10.35H
Actual: 9.45L, 10.35H, 11.10L
Tuesday sees a possible 9.40 cycle Low+/-, rally to a 10.30 cycle high at the 10.30 time CIT, decline to a 11.15 cycle Low+/-30, rally to a 12.20 cycle High at the 12.55 time CIT, decline to a 2.00 cycle Low at the 2.35 time CIT, rally to a 3.40 High+/-30.
Intraday Mebob Buy above 1866.50 /ES (Mar Emini SP)
Intraday Mebob Sell below 1861.50 /ES (Mar Emini SP)
Intraday Cycle is the Pink lines (9.40L), 10.30H, 11.15L, 12.20H, 2.00L, 3.40H
Intraday Mebob Sell below 1861.50 /ES (Mar Emini SP)
2.30 pm Update: Update 2
Intraday 5 min SPX CIT Times 2/10/16: 10.30, 12.55, 2.35 pm Eastern
Actual: 10.35H, 1.05H
Actual: 9.45L, 10.35H, 11.40L, 1.05H, 1.55L
The markets have been choppy since the 1st hour High, and still in an Up wave and we should still see a last hour High.
Markets are staying within the 5 minute sideways to up channel, with resistance at 1873 SPX and 1887 SPX
Tomorrow is an Inversion day, with a 79% chance we see a 1st hour Low and a 21% chance we invert to a 1st hour High.
Yellin also speaking tomorrow should have an influence.
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