An attempt to provide a framework to the stock market's seemingly random gyrations. This blog is for my personal use and is not intended to be taken as investment advice. Abbreviations and terms often used: MY = multi-year / MM = multi-month / MW = multi-week / MD = multi-day / MA = moving average / session cycle (5-7 hour cycle)
Thursday, June 14, 2012
6/14 mid-morning update
Price has apparently put in an earlier-than-projected 24Hr low (though a higher session low is needed to confirm) and taken out the prior 24Hr high. This whipsawing action had me thinking of avoiding trading today until it resolves itself, and I should have acted on that thought. Price is possibly attempting to put in a multi-day top today or tomorrow. There would then be time for one more multi-day low which would coincide with the multi-week low projected for Tuesday (but could possibly come earlier). When this low is found my belief is we will have a strong rally next week as the market will be on the upside of both the multi-week and multi-month cycles.
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