Tuesday, October 11, 2016

10/11 update



Quote

from 10/10: "We are right now at triangle resistance  at 2163.50 /ES and 2170 SPX.  The intraday cycle today is biased higher and tomorrow is biased lower."

The markets topped yesterday right at triangle resistance at 2163.50 /ES and 2169.60 SPX and promptly reversed into this morning's Lows

It remains a daytraders market, but we are still expecting an 10/10L+/-1

We gapped sharply lower this morning to a 10.25 1st hour Low at 2139.75 /ES, right at trendline support.

emini.png

The intraday cycle today sees a 1st hour Low, midday Low and last hour Low.

If the midday Low is lower than the 1st hour Low, it suggests underlying weakness and suggests we will see a last hour lowest Low.

If the midday Low is higher than the 1st hour Low, it suggests underlying strength and suggests we will see a last hour higher Low and higher High.

Tomorrow is an Inversion day, with a 79% chance we see a 1st hour 10.20 High and a 21% chance we invert to a 1st hour 10.20 Low.

4 comments:

Daniel Kari said...

I just found your blog. Looks inteersting. What does 10.20 low and high means?

Daniel Kari said...

I just found your blog. Looks inteersting. What does 10.20 low and high means?

Raj Time and Cycles said...

It is the intraday Cycle, wheere we have intraday Highs and Lows.

10.20 low and high is: Markets should make a 10.20+/- am Low and High Eastern standard Time USA tomorrow

Daniel Kari said...

Thanks for your reply.