AI
Monday, August 22, 2011 9:03:02 AM
hi Chris,
With such volatility, it is getting pretty hard to pick out the smaller cycles. I still think that nominally May 25th should have been a 10 week low, but it failed, setting up the market into a bearish mode. That 10 week cycle off the mid-March low thus expanded to 13-14 weeks. Bearish.
That said, Sentient is taking June 16th as a 10 week low. Sentient is still looking at the Aug. 9th low as the 20 week nest of lows.
So the last 5 week cycle lows off the chart below are then:
June 16th
July 17th
August 9th
I should also note that the DOW transports put in a new low last week, which suggests/confirms that any bounce will be weak.
I'm was done trading longs as of early last week. I won't be looking at anything short until we get past Labor Day.
GLGT.
cheers,
john
www.sentienttrader.com
With such volatility, it is getting pretty hard to pick out the smaller cycles. I still think that nominally May 25th should have been a 10 week low, but it failed, setting up the market into a bearish mode. That 10 week cycle off the mid-March low thus expanded to 13-14 weeks. Bearish.
That said, Sentient is taking June 16th as a 10 week low. Sentient is still looking at the Aug. 9th low as the 20 week nest of lows.
So the last 5 week cycle lows off the chart below are then:
June 16th
July 17th
August 9th
I should also note that the DOW transports put in a new low last week, which suggests/confirms that any bounce will be weak.
I'm was done trading longs as of early last week. I won't be looking at anything short until we get past Labor Day.
GLGT.
cheers,
john
www.sentienttrader.com
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
