Intraday 10/14 Update Forecast

Intraday 10/14  10.30 am Forecast Update:

Globex futures have been sharply higher, currently Up +11, on the latest news http://money.cnn.com/2016/10/14/investing/premarket-stocks-trading/index.html 

Often (80%), though not always, when Globex futures have been higher all night, we see the High of Day at the open or in the 1st hour.

We gapped sharply higher and saw a 10.20H at 2143 /ES, right at trend line resistance.

There is an hourly Apex CIT at 10.35-11.40 +/- am today.

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

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

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

Intraday 5 min SPX CIT Times 10/14/16: 12.35, 12.50, 3.20 pm Eastern

Intraday Cycle is the Pink lines (9.40H), 10.20L, 11.15H, 12.30L, 2.00H, 3.10L

Actual: 9.50H, 10.05L, 10.20H

Friday sees a possible 9.40 cycle High+/-, decline to a 10.20 cycle Low+/-30, rally to a 11.15 cycle High+/-30, decline to a 12.30 cycle Low at the 12.35 or 12.50 time CIT, rally to a 2.00 cycle High+/-30, decline to a 3.10 cycle Low at the 3.20 time CIT.