We should be at or see the top of the 12TD cycle early in the week. In an up trending market often the top is right translated (right of the center of the cycle). If that proves to be the case with the market setting new highs (up trending) then the top may be as late as mid week for the 12TD cycle. Though we expect we may have seen the top on Friday, but our other indicators do not indicate that.
Longer cycles (24TD, 45TD and Wall cycles) have also turned up and may start to gain some momentum later in the week giving us a minimum type of pullback (2% or so?). It could be more than 2% given recent volatility.
Here is a visual:
GL traders
Tuesday close: appears Friday was the 12TD top (as suggested as possible)
3/25 11:45am --- other indicators (TSI, CCI for example) giving negative signals.
ReplyDeleteGood job Inlet. You got your cycle!
ReplyDeleteI got my trip to nearly a new but truncated high. Point and figure shows a double top.
Tomorrow is going to be interesting. Short term indicators say buy and some longer term flashed red. Spx closed at low up against the long term wedge. For years this has been a buy.
I hope the cycle proves right....
Sheeps
Thanks Sean... Let me know if you see anything P&F of note (trend change?). Long time since I last used P&F
ReplyDeleteJust a thought... big down day tomorrow and a huge rip your face off rally Monday. How does this fit into the cycles?
ReplyDelete12TD cycle should be bottoming Fri/Mon followed by some up movement next week.
ReplyDelete