I have also heard that Stan Hartley has a cycle which he puts a lot of confidence in that is a 54 TD (trading day) cycle in the NASDAQ. This would point to the end of the second week of April. On a longer-term outlook, the 78.5 WEEK CYCLE ( 378 TD ) which identified important market lows in the SPX at: October 27th, 1995 October 14th, 1997 October 08th, 1998 March 24th, 2000 (high) September 21st, 2001 March 12th, 2003 Is due in September of 2004.
Very interesting info. Please offer more detail about the 54 and 378 day cycles, and include contradictions or other statistics that help determine accuracy.
If I were to make the effort that you have asked me to in your preceeding post, I would never be able to get off of ET and actually trade. Do yourself a favor and order a subscription to Stan Harley yourself, if you are so inclined: www.harleymarketletter.com
1087.00 worked for me today. I will try it again tomorrow, using the following S&P S/R and Pivot: 1109.85 (R3) 1103.55 (R2) 1097.55 (R1) 1091.25 Pivot 1085.25 (S1) 1079.00 (S2) 1073.00 (S3)
Hope you made some money off of that major fibonacci retracement yesterday at SPX 1087 with the actual intra-day low coming in at 1087.16 Check out the Homebuilders today?
is retiring today and in his last market commentary he decided to remark about how many "novices" use the words "correction" or "crash" when they are not recognized by the trading and technical analysis community as such. As a result, he offered the following definitions today: Consolidation: Any sideways activity in the market that is < 10% in price from the highs. Correction: Is a decline in price of > 10% off the peak.
Yes, this time is a very healthy correction just in time. helps getting rid a lot of bad blood. True patriots will prevail. America will prevail. Bush will be the President once more for all.