hey brigitonnot only are you pitting me against princeton for...

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.