(Feb16, 2010 - Tuesday) The cycle calculations are presently inverted and combined with a long weekend make synchronizing the daily charts too difficult. Look for a reversal around 1:00 today. It may be a high or a low. Daily charts will be posted tomorrow morning.
Thanks Mike for the info! Folks - while my own personal guess is a low, that can be 100% as Mike points out! Swing traders may as well use other methods like indicators and trendlines, and we'll also see soon enough if and when there's a change in Mike's TCI graph which currently shows a high either put in or very soon. Day traders, pretty much the same, combined with levels. Like SPX 1076 which has become quite a divider, above that being 1082, 1087, and 1092 / 1097. Below being 1068, 1065/1066, and of course 1060/1062, then 1057-1053-1052 (and down under, 1040's and 1030's). Not that we've got any reason to think we even get under 1068 today! But if it happens, remember that Tony Caldaro's support pivot is 1061, with a range of 7 points either way.
Obviously the euro/dollar plays a role, and notice the love affair with gold has flamed up again. I'd like to believe gold is ready to move but not at all convinced the cycles agree so soon. In fact the same probably true for equities. So as opex games heat up, and premium vanishes rapidly, be careful out there. And happy market navigating!
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