Replies to post #46463 on Short Term Trading Member Forum

[Y worry Murray]

The Globex 30 min shows price action is still within the bear channel although bullish divergence is shown by TF.

[techcharter]

Near Term Top Forming

I've updated my 50 day INDU projections based on spectral analysis. The tops and bottoms in the markets occur before turning points in the projection by 5 to 10 days. The last projection indicated a top on Friday the 16th, 5 days after the actual market top. The projection indicates a near term top on Friday the 23rd, so the likelihood of downside next week from the close on Friday the 16th is pretty strong.

E-waves show multiple degrees of 1-2 have completed. Both structural (e-waves) and spectral techniques are singing the same song.