This week we have a day 4/1 window Wednesday 14:30 to Thursday 12:30. Cycles turn within this window often enough that it pays to be alert for a turn during that window. The weekly projected down bias low is at 1367 this week. For the month of May 1370 is the key level that will not be traded below unless a top of monthly significance is in place. Trading below 1370 then 1367 opens the door to a further low at the monthly up bias low at 1355.
Here is what we must be alert for this week. If the SP-500 trades below 1367 but does not close below 1361 the monthly and quarterly up bias toward the end of May first of June remains up bias for a higher high above 1423. A daily close below the 1363-1361 area is a major caution that the multi month up bias from the mid March low that targeted 1416 to 1435 by the end of May has topped within the price window and early in time which is very bearish.
Best,
Larry
Critical indication week
Started by
LarryT
, May 11 2008 04:48 PM
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#1
LarryT
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Posted 11 May 2008 - 04:48 PM
This week we have a day 4/1 window Wednesday 14:30 to Thursday 12:30. Cycles turn within this window often enough that it pays to be alert for a turn during that window. The weekly projected down bias low is at 1367 this week. For the month of May 1370 is the key level that will not be traded below unless a top of monthly significance is in place. Trading below 1370 then 1367 opens the door to a further low at the monthly up bias low at 1355.
Here is what we must be alert for this week. If the SP-500 trades below 1367 but does not close below 1361 the monthly and quarterly up bias toward the end of May first of June remains up bias for a higher high above 1423. A daily close below the 1363-1361 area is a major caution that the multi month up bias from the mid March low that targeted 1416 to 1435 by the end of May has topped within the price window and early in time which is very bearish.
Best,
Larry
