14 replies to this topic

[airedale88]

time window for the nominal 5 wk cycle low. possible projection off the 2.5 wk fld to mid 1420's. no confirmation currently. this 5 wk cycle will be right translated, bullish.

[BearItch]

What happened to the 6/7 day low due Monday or Tuesday? Did it arrive one day late on Wednesday? Or did the market forget about its 6/7 day low and move on to the 5 week cycle low?

[airedale88]

it bottomed, turned up briefly, and then turned down. you can see it on intraday charts. NYSE Comp made a new all time high after the last 6/7 day low. other averages had small amplitude moves and then turned down. i did mention it's a minor cycle.

[airedale88]

it bottomed, turned up briefly, and then turned down. you can see it on intraday charts. NYSE Comp made a new all time high after the last 6/7 day low. other averages had small amplitude moves and then turned down. i did mention it's a minor cycle.

here's the intraday chart. the cycle bottomed at mondays' close, a little earlier than expected.

[BearItch]

Thanks. So your work is then is solely NYSE focused? What there a cycle top then on the same day at the close that accounts for this decline? ? I thought you were expecting a rally of a few days off this low before the next 5 week cycle low coming in on Modnay +/- a day. I am not sure how the current market action fits with your thinking

[mmm]

Thanks airdale. Your work is always appreciated and fits with my analysis. Dennis

[airedale88]

Thanks. So your work is then is solely NYSE focused? What there a cycle top then on the same day at the close that accounts for this decline? ? I thought you were expecting a rally of a few days off this low before the next 5 week cycle low coming in on Modnay +/- a day. I am not sure how the current market action fits with your thinking

no, not just NYSE. the same price action shows in the SPX. the rally off that minor cycle low lasted from the end of the day monday to the top at the end of tuesday's trading. little bit longer than 1 day. i was wrong thinking it could last another day or so. in the same post i mentioned we had a nominal 5 wk cycle due to bottom around this weekend. a decline was due to start this week.

Edited by airedale88, 12 April 2007 - 08:25 AM.

[arbman]

this 5 wk cycle will be right translated, bullish.

Yes, this is not the IT top...

[airedale88]

time window for the nominal 5 wk cycle low. possible projection off the 2.5 wk fld to mid 1420's. no confirmation currently. this 5 wk cycle will be right translated, bullish.

today is 21 weekdays from the last 5 wk low. actually by the close today it's closer to 21.5 days, so we are in the time window depicted on the above graph for a nominal 5 wk low. prices have not broken the 2.5 wk or any larger fld as of today's low print to give downside projections. this is very bullish. while it's hard to determine right now if the 5 wk low has definitely bottomed (taking out tuesday's high would confirm it has), the net result of current price action points toward new highs for the yr for SPX, more new all time highs for NYSE, etc, due soon.

[airedale88]

NYSE COMP has taken out it's previous high. strong evidence the 5 wk cycle bottomed today.