On 4/14 I posted in the comment section of my previous post:
"The Master cycle had a 4/12 Low +/-, then we make higher Highs after. That still stands, even if we are off by 2 days today. Ideally we bottom out at the 4/13-14 CIT. We again tested the ideal MC target of 1305-1310 SPX. That would also make the 10 and 20 TD Hurst Lows extended to 12 TD and 22 TD Long and overdue for a bottom. We need a reversal higher to confirm."
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"The Master cycle had a 4/12 Low +/-, then we make higher Highs after. That still stands, even if we are off by 2 days today. Ideally we bottom out at the 4/13-14 CIT. We again tested the ideal MC target of 1305-1310 SPX. That would also make the 10 and 20 TD Hurst Lows extended to 12 TD and 22 TD Long and overdue for a bottom. We need a reversal higher to confirm."
The Master Cycle (MC) (click on chart to enlarge) expected 4/12 Low arrived 2 days later on my targeted 4/14 NDX CIT Low at 1302.40 SPX, right at the MC 1305 SPX target. There is plenty of bearish sentiment on various forums, but The MC now projects higher Prices in the days and weeks ahead. We should ideally see a rally above the 2/18 High at 1344 SPX. The Master Cycle has an ideal targeted Time and Price for the next swing High and next swing Low.
The Master Cycle (MC) 2011-2012 Long term forecast was first mentioned in the beginning of 2011 (http://timeandcycles.blogspot.com/2011/01/stockmarket-forecast-2011-and-next.html and http://timeandcycles.blogspot.com/2011/02/master-cycle-2011-2012-crash-forecast.html ) and is so far being followed, ie generally higher into June 2011, which should be the MAJOR HIGH of 2011 and then weaker in the 2nd Half of the year and lower into October 2012 Major Lows. Major Uptrend line resistance is at 1386 SPX next week. A break below the major Uptrend line at 1259 SPX is Super bearish. We should retrace at least 50% to 1000 SPX from the June 2011 High. The Price Magnitude is not a guarantee in the chart, but should be a general guideline. Other cycles that I watch confirms the MC outlook for a June High and down the rest of the year and into 2012 Lows.
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3 comments:
Today's decline will probably put a damper on the MC as we take out last week's Lows. The MC will be put on hold.
nevertheless today could be a short term Low
Tricky market right now raj
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