wednesday - bio's confirmed shorting, page-36

hey brigiton

not only are you pitting me against princeton for the direction of the mid august turn, you're wanting me to spell out how i think my turns from here to august may work out. you cheeky buggar. :)

bear in mind that my cycles should only be used as a rough guide....and i always use in combination with t.a.. ..so here goes.

as i've already mentioned, my cycles stuff indicates a turn date for 14/7 (+/- a day). my stuff suggests the 14th will be a short term low with a high to come in on about 22/7 (those that have been checking, know that this also coincides with the next total solar eclipse). i have another turn due at about 14-15/8 which i also anticipate to be a low.

i haven't look beyond that point as yet as i would rather see where we stand t.a. wise in mid august before i look at my data for september/october.

however, maximum pain for opex suggests a close at about 910 on the spx. it is currently not clear to me what path the market will take to achieve this short term target.

i have decent support on the daily and weekly at about 850.

my favourite scenario last week was that we'd see 850 this week and bounce next. last night, i thought we needed to bounce first to complete the wave structure before breaking down. the market obviously thought my original scenario was the best path.

i should have stuck to the original plan as i would have made more by just sticking to the short side rather than trying to scalp the move over the last few days.

at this point, i have no choice but to try follow the bouncing ball as best as possible and see were we are at my next couple of turn dates.

i hope this clarifies my thoughts for the short term.