sierra, agree its time for caution, I had a number of cycles come due last Weds which I thought would be a high, and at this stage it is a closing high, and it worked for a day, however it is obvious now that in a strong uptrend, ordinary cycles will not be guaranteed of having a strong reaction. As pointed out by Ravo, its the geometry of the market which rules price and time action, and it will be interesting to see if there is a strong reaction on Tuesday.
livermore friday, page-73
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