Taking into account the 60min cycle - which is pretty close to being maxed out, I'm guessing we are due to cycle lower again starting as early as the latter part of Wednesday.
Lets look at those daily cycles!
IWM, daily
SP, daily
Transports, daily
Summary
Wednesday will be a very important day. We'll be just 2 days away from opex, and if we're around sp'1400, we'll be some 40pts higher that the recent low. Some degree of pullback seems highly probable.
Anyone shorting tomorrow with serious money, should surely have a stop around sp'1410/15. Any price moves above that level, and its very viable we'll just keep on going - not least since the weekly/monthly cycles will start to flip back to bullish.
Good wishes
Lets look at those daily cycles!
IWM, daily
SP, daily
Transports, daily
Summary
Wednesday will be a very important day. We'll be just 2 days away from opex, and if we're around sp'1400, we'll be some 40pts higher that the recent low. Some degree of pullback seems highly probable.
Anyone shorting tomorrow with serious money, should surely have a stop around sp'1410/15. Any price moves above that level, and its very viable we'll just keep on going - not least since the weekly/monthly cycles will start to flip back to bullish.
Good wishes
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