Replies to post #32475 on Short Term Trading Member Forum

[bornspier]

aire

If we count monday as a 10wk low, then the 5wk cycle was 22 days long and the 10wk cycle was 47 days long. These numbers are shorter than the average. I have the following:
last 3 5wk cycles = average length 26 days
last 3 10wk cycles = average length 49 days

Looking at the futures this morning, it seems likely that we may take out monday's lows either today or tomorrow, which would be very bearish if monday was indeed a 10wk low.

I was expecting 10wk to bottom wednesday or thursday, but I think the fed intervention will make this cycle run longer, so it may arrive early next week. Do you think it's a plausible scenario?

Thank you,
B