http://safehaven.com/article/43230/bulls-be-aware-2245-spx-5-is-major-long-term-resistance
Forecast from my last public blogpost on 11/4/16, "The 47 TD Cycle is still suggesting a 11/8 Low +/-3 TD"
From the 11/9 Update: "A solid close above 2155 SPX confirms the 11/4 major Low as the 180 TD/9 Month major Low and we now rally into the next 1-2 months"
Actual: The Cash SPX Low was on 11/4L at 2083.79 SPX, which was a quintuple time CIT, while the Globex SP futures made its Lowest Low on 11/8-9.
From the 11/22 Update: "it is best to use any short term pullbacks to add to longs and just be long until around 12/XX. There is a “Tunnel” Price target at 2239 SPX"
From the 12/1 Update: "There is long term trend line resistance at 2245 SPX+/-5"
Actual: From the 11/4 Low, we rallied so far a whopping 157.84 SP's in one month into 12/7H at 2241.63 SPX, which reached our 2239 SPX Tunnel Price target.
We have rallied into major long term 19 year old major trend line resistance that started from the 10/28/97L, touched 10/8/98L, 3/22/01L, 3/19/02H, 10/11/07H, 5/20/15H, all major Highs and Lows! and now 12/07/16H at 2241.63 SPX. Of course it can pierce this trend line a little, but it suggests limited upside potential as 2242-45 SPX +/-5 should be major resistance.
Thursday 12/8 is a major long term proprietary Geometric Time CIT, that dates back 5 1/2 years ago, from the 5/2/11H. 12/9 is the next Solar CIT and the "Ezekiel Wheel" next CIT is on 12/9.
There is also a 45 week cycle due this 12/9/16 week that started from the 3/6/09L.
What's next: We should make a Dec 8 High+/-1, targeting 2245 SPX +/-5 and start a retrace, we should then retest these Highs at a long term projected future major High date.
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Forecast from my last public blogpost on 11/4/16, "The 47 TD Cycle is still suggesting a 11/8 Low +/-3 TD"
From the 11/9 Update: "A solid close above 2155 SPX confirms the 11/4 major Low as the 180 TD/9 Month major Low and we now rally into the next 1-2 months"
Actual: The Cash SPX Low was on 11/4L at 2083.79 SPX, which was a quintuple time CIT, while the Globex SP futures made its Lowest Low on 11/8-9.
From the 11/22 Update: "it is best to use any short term pullbacks to add to longs and just be long until around 12/XX. There is a “Tunnel” Price target at 2239 SPX"
From the 12/1 Update: "There is long term trend line resistance at 2245 SPX+/-5"
Actual: From the 11/4 Low, we rallied so far a whopping 157.84 SP's in one month into 12/7H at 2241.63 SPX, which reached our 2239 SPX Tunnel Price target.
We have rallied into major long term 19 year old major trend line resistance that started from the 10/28/97L, touched 10/8/98L, 3/22/01L, 3/19/02H, 10/11/07H, 5/20/15H, all major Highs and Lows! and now 12/07/16H at 2241.63 SPX. Of course it can pierce this trend line a little, but it suggests limited upside potential as 2242-45 SPX +/-5 should be major resistance.
Thursday 12/8 is a major long term proprietary Geometric Time CIT, that dates back 5 1/2 years ago, from the 5/2/11H. 12/9 is the next Solar CIT and the "Ezekiel Wheel" next CIT is on 12/9.
There is also a 45 week cycle due this 12/9/16 week that started from the 3/6/09L.
What's next: We should make a Dec 8 High+/-1, targeting 2245 SPX +/-5 and start a retrace, we should then retest these Highs at a long term projected future major High date.
12.25 pm Update: https://twitter.com/TimeandCycles
The intraday cycle is a Low am to High pm day, ie, we see a 1st hour Low, often (not always) the Low of Day and a last hour High, often (not always), the High of Day
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2 comments:
Hi. At what point in time or price do you admit that you have been wrong. (No verdict yet, obviously) S&P 2260? 12/13/16? Just wondering because no one is perfect and recognizing mistakes early is the key to success, maximizing profit.
Hi Ralph,
'This was sent to Subscribers this morning:
Bullish momentum remains strong and as all trends are up, surprises will be to the upside. We do not short this market, until after XXX Date, and then we need to see a reversal lower to confirm
Is it possible we just slice through this trend line resistance? Of course anything is possible, but it would be the first time in 19 years, this trend line would be breached, we could pierce through, which has happened before, if you look closely at the chart, but it has always snapped back below it.
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