cycles
#1
Posted 11 October 2007 - 12:47 PM
we are in the time window for the 10 wk cycle low to bottom and what evidence there is suggests that bottom occurred wed. the breakout today of the small coil/consolidation that shows on the RUT chart and some other indexes is the only indication of any cyclic downside, and that downside was muted by the very strong cyclic uptrend larger than the 10 wk cycle.
we remain very early in the new 4.5 yr cycle up trend with much higher prices coming.
RUT coil and today's breakout..
http://stockcharts.com/c-sc/sc?s=$RUT&p=D&yr=0&mn=3&dy=0&i=p91031909459&r=749.png
Outspeaks the Squire, "Give room, I pray,
And hie the terriers in;
The warriors of the fight are they,
And every fight they win".
Ring-Ouzel, England
#2
Posted 11 October 2007 - 01:00 PM
Remember this day, men, for it will be yours for all time.
#3
Posted 11 October 2007 - 01:01 PM
#4
Posted 11 October 2007 - 01:10 PM
I was right about to post that the market can not rally higher without releasing some of the tension from the prices, but it dumped before I was able to type it...
kis, there is still the small chance the 10 wk low has not bottomed, if so we need a reversal to the downside quickly. unless one is a VST trader, i think it's more important staying or getting long rather than trying to scalp a few points downside and missing alot of upside movement.
Outspeaks the Squire, "Give room, I pray,
And hie the terriers in;
The warriors of the fight are they,
And every fight they win".
Ring-Ouzel, England
#5
Posted 11 October 2007 - 01:25 PM
Outspeaks the Squire, "Give room, I pray,
And hie the terriers in;
The warriors of the fight are they,
And every fight they win".
Ring-Ouzel, England
#6
Posted 11 October 2007 - 01:29 PM
kis, there is still the small chance the 10 wk low has not bottomed, if so we need a reversal to the downside quickly. unless one is a VST trader, i think it's more important staying or getting long rather than trying to scalp a few points downside and missing alot of upside movement.
That's mainly my thinking, I actively hedge though, anyway I expect the 10 wk low next week, but I also expect a rally, do you think the market is entering a mid channel pause zone later for the second half of Oct before the next 100 SPX points?
#7
Posted 11 October 2007 - 02:27 PM
Outspeaks the Squire, "Give room, I pray,
And hie the terriers in;
The warriors of the fight are they,
And every fight they win".
Ring-Ouzel, England