Friday, November 03, 2006
The good news is: the CIT dates are working just fine.
The problem is: I got wrapped up in my mechanical hi-lo-hi-lo sequence and ignored the possibility of 2 highs or lows in a row, which has in fact occurred once before.
In any case that changes the whole outlook. Considering that the market is currently getting oversold, November 5 – 13th the SPX should move sideways/up.
The key to watch is whether we have a higher or lower high during that period.