The mid-point reference of the series is defined as the "Super Magnet" in my system. The market has a strong momentum if it can move away from the "Super Magnet". The primary purpose of this study is to find a general reference of short term direction after localizing the position of "Super Magnet" in the daily cycle. Once the market is trading outside the daily cycle normal limits the odds are high (around 70%) that the market will settle outside the limit at the end of New York session. The daily cycle normal limits is not the same as the daily expected trading range and can't be used to set the daily high/low.
A projected resistant level is located at 01315 - 10318 and a projected supporting level is expected at 10139 - 10140.
