SP500
the 5 wk cycle low i expected wed appears to have bottomed early on monday. there have been instances in the past where this normal 12/14 day cycle bottomed at 10/11 days. i re entered long dec e minis at 1341.50 avg price with a stop at the noon low of 1337.75.
meanwhile, a cyclic forecast i made on june 17th on the Trader's Talk forum is still in effect.......
this latest 20 wk cycle again was right translated, indicating the sum of all larger cycles remains very bullish, even this late in the 4.5 yr cycle. if those conditions remain, and there is no cyclic evidence to the contrary, the condition exists for a powerful move to new highs for the yr on SPX this summer, perhaps to the 1370 area + to create a right translated 40 wk cycle high before that cycle bottom is due end of sept/early oct.
this forecast was made after the markets had just plunged from their may highs to the june lows, with most market technicians believing the high for the year was made in may for the SP500 and the decline would continue into oct.
the only change to my forecast was made based on a relabeling of of the nominal 20 wk low to mid june . that extended the time window for the move to 1370 +/- to late sept early oct.
the next nominal 20 wk cycle low is due the end of oct/early nov.
meanwhile, a cyclic forecast i made on june 17th on the Trader's Talk forum is still in effect.......
this latest 20 wk cycle again was right translated, indicating the sum of all larger cycles remains very bullish, even this late in the 4.5 yr cycle. if those conditions remain, and there is no cyclic evidence to the contrary, the condition exists for a powerful move to new highs for the yr on SPX this summer, perhaps to the 1370 area + to create a right translated 40 wk cycle high before that cycle bottom is due end of sept/early oct.
this forecast was made after the markets had just plunged from their may highs to the june lows, with most market technicians believing the high for the year was made in may for the SP500 and the decline would continue into oct.
the only change to my forecast was made based on a relabeling of of the nominal 20 wk low to mid june . that extended the time window for the move to 1370 +/- to late sept early oct.
the next nominal 20 wk cycle low is due the end of oct/early nov.
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