Okay, for the clean chart purist, this looks a mare I know. But, we are at D1 and its bollyband SD line (1.5) which it broke through on the 11th. As discussed in the weekend report, a sidewards move to D1 was on the cards because of the distance created by that punch up last week, that I am counting as a '5' of C in 'A' from 1.2041. However, T1 is not now facing sidewards but is clearly down and providing overhead cover along with successive lower highs. My thesis is that the 'ladder' of cycles can be counted in increments and that D1 is the first gateway to the first rung with reasonable traction. Break this and hold and price will go search for D2. See the blue line in the subchart - this is the half cycle ahead of the momentum that caaued the punch up - now the reaction. I can not control the way in which price will do this but knowing that it is mathematically attracted to it helps, I think. For now, the 30min SMI is tired again, so any punch down is likely to be pulled back for a bit to reset, or we go back up again and look at D1 higher up. Don't know. We shall see.
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