9/23 swing High
#1
Posted 23 September 2016 - 08:21 AM
#2
Posted 23 September 2016 - 09:14 AM
9/23 +/-1 is the next swing High and the start of a relatively sharp decline.
Probably not.
S/t correction down to 2160 area. Wrong below that.
Monthly, weekly and daily trends all now bullish.
Monthly OB, but there's ample room on the other timeframes.
#3
Posted 23 September 2016 - 09:36 AM
Okay, time will tell about that.
Below is today's Daytrading's outlook:
Daytraders: The intraday cycle is a Low am to High pm day (or Inverse), "with a possible 9.40 cycle High+/-, decline to a 10.30 cycle Low at the 10.15 time CIT."
We saw a 9.40H and a 10.15 1st hour Low. We should see a midday and last hour High.
Intraday 5 min SPX CIT Times 9/23/16: 10.15, 1.15 pm
Actual: 10.15L
Intraday Cycle is the Pink lines (9.40H), 10.30L, 12.45H, 1.40L, 3.30H
Actual: 9.40H, 10.15L
Friday sees a Low am to High pm day (or Inverse), with a possible 9.40 cycle High+/-, decline to a 10.30 cycle Low at the 10.15 time CIT, rally to a 12.45 cycle High+/-30, decline to a 1.40 cycle Low at the 1.15 time CIT, rally to a 3.30 cycle High+/-30 min.
Edited by Rocketman, 23 September 2016 - 09:38 AM.
#4
Posted 23 September 2016 - 09:38 AM
we have clear 3PDh formation. So probably you are right. Time to short is now.
#5
Posted 23 September 2016 - 09:41 AM
The ideal short is in the last hour today, but who knows.
#6
Posted 23 September 2016 - 10:08 AM
I think the downside is limited to 2100 or 2120, so I am using bearish call spreads into a 10/14 low per Curry's seasonality of election years. That formation says we are at a top now and agrees with your timing. It predicted a pop to this level as we got this week. I think we wear people out with a drop back to the lows next week and run it back up to this level the following week and then back down to the lows by 10/14. So I am going to get into bull put spreads next week and be on both sides of market for next three weeks.
Also, Monday is last Monday of month (normally a buy), so if we sell off strongly today, I would expect us to rally on Monday back to middle ground and drifting until we sell off to lows.
Edited by thoughtpwr, 23 September 2016 - 10:11 AM.
#7
Posted 23 September 2016 - 10:42 AM
I am long this market since the Fed day and still holding it. To me a 5-min close below SPX 2169 will trigger a swing short today. Barring that i will continue to hold my longs. This is a high probability area for retracement failure.
If a swing turn were to occur, then we will close below SPX 2162 today.
Edited by NAV, 23 September 2016 - 10:48 AM.
#8
Posted 23 September 2016 - 12:12 PM
I shorted spx 2168. Stop 2180
#9
Posted 23 September 2016 - 04:50 PM
we have clear 3PDh formation. So probably you are right. Time to short is now.
Dennis Gartman - "we are now of course net long of equities on balance."
Enough said.
#10
Posted 25 September 2016 - 07:54 PM
9/23 +/-1 is the next swing High and the start of a relatively sharp decline.
FWIW, my expectation is +1