iQuaestor: Dow Industrials

Disclaimer

Disclaimer: This blog should be read as a 'whiteboard' of my daily thoughts and ramblings and specifically not, in any way, advice to trade. My interpretation of the works of Gann, Goodman, Fibonacci, Elliott, Hurst et al; is entirely my own and should be read as such. Any opinions, news, research, analyses, prices, or other information contained in this report are provided as general market commentary, and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

Monday, 20 May 2013

Dow Industrials

Quick big picture run down the various cycles: 1200 day, 400day, 100 day, 25 day. Price running at tops of all associated bolly bands with the lower bands being the usual low for each respective cycle. Also, all momentum clusters overbought on all time frames with EW counts close enough to make a turn a good possibility. The question the market is going to ask is which of the cycles is the next drop going to tidy up; undoubtedly the pace of any drop will give us a hint but I am certainly hoping for the 1200 day cycle (or Hurst's 54month) to get a chance here. Anyhow, any drop will see me in profit but the time spent hunting this turn really needs a good 500 pips to make me smile. As ever, we shall see!