Daytraders: The intraday cycle sees a 1st hour High, midday High and last hour High.
If the midday High is higher than the 1st hour High, it indicates underlying strength and suggests a last hour highest High.
If the midday High is lower than the 1st hour High, it indicates underlying weakness and suggests a last hour lowest High and lower Lows.
Intraday 5 min SPX CIT Times 11/14/16: 10.35, 1.50 pm Eastern
Intraday Cycle is the Pink lines (9.40L), 10.00H, 11.00L, 12.30H, 2.30L, 3.20-50H
Tuesday sees a possible 9.40 cycle Low+/-, rally to a 10.00 cycle High at the 10.35 time CIT, decline to a 11.00 cycle Low+/-30, rally to a 12.30 cycle High+/-30, decline to a 2.30 cycle Low at the 1.50 time CIT, rally to a 3.20-50 cycle High+/-30 min.
https://twitter.com/TimeandCycles Updates:
- We saw a 10.20 1st hour High so far
- 2181-82 SPX is resistance.
- There is a good chance we erase today's gains by tomorrow's close, which is biased to be lower.
- 12.55 pm: Rajacar @TimeandCyclesWe saw a 12.10H that was slightly lower than the 1st hour High, indicating some underlying weakness and markets are stalling
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