Tuesday, November 01, 2011 10:26:45 AM
window ends on 11/08
The following chart was posted on 10/08, it correctly nailed the index direction, but failed to get correct level, the index was way to bullish.
Chart said that there are 64 trading days wide time window with a major low in the middle, index passed the first check point on 10/25 and marked a peak at 10/27, within the +/- margin, therefore, in an 'ideal' case, index 'should' see a low on 11/08 +/-. I will let market do the job, she is the true master. cycle just a tool based on already passed trails to anticipated a suppose-to-be profile, this process is no difference with the classic pattern recongnition; as mentioned in prior post that near the 11/15-11/16 time cluster we 'suppose' to see some violent actions, only time will tell. The level is the game of the Fibonacci, will do fine tuning as time approaches.
at this writing, index retraced more than 0.3 (1.5/5 = 0.3, at 1226), cut through 1240 and breached 1219, the chance to see the second important support 1208 is getting higher, the only wildcard is MR. Bernake, He might push index below 1200 as recently once he opened mouth, index stumbled.
The following chart was posted on 10/08, it correctly nailed the index direction, but failed to get correct level, the index was way to bullish.
Chart said that there are 64 trading days wide time window with a major low in the middle, index passed the first check point on 10/25 and marked a peak at 10/27, within the +/- margin, therefore, in an 'ideal' case, index 'should' see a low on 11/08 +/-. I will let market do the job, she is the true master. cycle just a tool based on already passed trails to anticipated a suppose-to-be profile, this process is no difference with the classic pattern recongnition; as mentioned in prior post that near the 11/15-11/16 time cluster we 'suppose' to see some violent actions, only time will tell. The level is the game of the Fibonacci, will do fine tuning as time approaches.
at this writing, index retraced more than 0.3 (1.5/5 = 0.3, at 1226), cut through 1240 and breached 1219, the chance to see the second important support 1208 is getting higher, the only wildcard is MR. Bernake, He might push index below 1200 as recently once he opened mouth, index stumbled.
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