8/10-11 Low achieved, so what's next?

94 TD Cycle

Forecast: form our last public post, I was looking for "an 8/7 Lunar Eclipse High and a decline into 8/11L+/-1 Day."

94 TD Cycle

Actual: We saw an 8/8H, 1 day later and saw a sharp 53 SP decline into 8/10-11 Low into the 94 TD Cycle of Lows as expected.

Daytraders:  

The intraday cycle for Friday 8/11 sees a 1st hour High, midday High and last hour High
 
We saw a 9.50L and a 10.50 1st hour High.
 
If the midday High is higher than the 1st hour High, it suggests a last hour highest High and Vice Versa.

SP500

 
So, what's next?:  We touched long term channel support on the Emini SP at this morning's 8/11 Low. We should now see a strong rally, although there is another (higher) Low at the 8/25 Geometric time CIT. 

 

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