Short Term Trading Member Forum

[pmiles]

It would seem the 2.5 week cycle is very left translated and has failed.

We have an unreliable 5 week downside target at about 1811 and a more reliable 10 week at 1806.

If we were to meet or slightly exceed the 10 week target we could generate a 20 week target down in the 1740 area. That FMA turned back up enough with the last high to be used.

Beyond that we also have a cascade potential through the 40 and 80 week FMA's.

At any event on the assumption that the 2.5 week has failed we do know that we are now heading down into the 5 and 10 week low due around the 22nd.