This is a copy of the Jan. 7th chart updated as of the close of yesterday.
As you can see, the SPX followed perfectly the sequence suggested 4 weeks ago.
Not only that, but interim comments identified beforehand short-term cycles unlikely to affect the main trend.
Moreover, the addition of intraday cycles proved to be invaluable in identifying turning points for intraday moves. So, those who took the time to visit the site got a comprehensive array of multiple timeframe cycle information.
The overbought/oversold indicator I mention from time to time also played its role in isolating the correct turning points. Speaking of which, this indicator is officially in overbought territory, as I expected it to be in my analysis two days ago. Looking at the CIT dates sequence for February, it has some interesting implications for the future direction of the SPX.
Which brings me to my next point:
As of this weekend the CIT dates, short-term cycles (sc), intraday cycle forecasts, overbought/oversold alerts, and other analysis regarding future market trends will be delivered by subscription only. The blog will reflect the history of past calls made to subscribers, so newcomers can make an informed decision about the merits of subscribing.
For half the price of an e-mini point a week, you can have access to a concise and proprietary market perspective. There is a lot more to technical analysis (TA) than cycles, and I use it myself on a daily basis. However, it has never been my goal to write lengthy treatises on TA every day, but to provide an original perspective which could help others in their decision-making.
Welcome to all new subscribers
