Now the cautious wait until the FOMC meeting 01 Aug after which I expect stocks to move higher!
The fact that we have an ICH in the last daily cycle tells me that this is a pretty robust market which is going to surprise to the upside so rather than trying to short I would be endeavouring to pick an ICL date and go long at any sign of weakness.
I am looking for an event that may cause a failed daily cycle in a short time.
It reminds me a lot of the weekly cycle in early 2016 when the 27 Jun 2016 ICL was marked by a sudden 2 day drop that gave a failed daily cycle in a reasonably short cycle.
The SPX then rebounded incredibly strongly.
A similar time frame in this current daily cycle at around 42-47 calendar days gives us a date around 08-12 Aug for an ICL
Well my DCH date of 25 Jul was indeed accurate.
Now the cautious wait until the FOMC meeting 01 Aug after which I expect stocks to move higher!
The fact that we have an ICH in the last daily cycle tells me that this is a pretty robust market which is going to surprise to the upside so rather than trying to short I would be endeavouring to pick an ICL date and go long at any sign of weakness.
Far too early for a mid cycle slowdown!
I am looking for an event that may cause a failed daily cycle in a short time.
It reminds me a lot of the weekly cycle in early 2016 when the 27 Jun 2016 ICL was marked by a sudden 2 day drop that gave a failed daily cycle in a reasonably short cycle.
The SPX then rebounded incredibly strongly.
A similar time frame in this current daily cycle at around 42-47 calendar days gives us a date around 08-12 Aug for an ICL
US missile strike on Iran maybe!