Tuesday, April 12, 2011

Market OUTLOOK- revised for Apr11th to 22nd

April 12 @ noon
This reflects a combination of Energy and POWER DATA

April 11th should be considered the FIBO TURN in the 178 week low which culminates on April19th at 890 tr days.    890/5 = 178 weeks, a Stan Harley cycle - starting date Oct 10, 2007 TOP

The 14th  has a fibo convergence of 34 & 21 tr day cycles
34 on 13th from Feb24th
21 from Mar16

39hours @ 10am  & 156bars at open
expect a see saw day

Friday calls is for a friendly day , but decepitve
mis-communications & misunderstandings

Full moon this month on 17th seems to have some negative connotations

19th negativity continues & this is the CYCLE culmination of 890 tr days

I have found that a 40pts spx can be used as a rule of thumb,
and it is consistent in multiples also

for example
1343 - 1257 = 86 pts on closing
1340 recent high - 40 = 1300 and a break of that should get another 40 pts to 1260
Fibo math 94pts intraday x 1.618 = 152pts which is quite close to 160 , or 4 x 40 =160
which would find support for the spx at 1180 or near that level. 1340 - 160 = 1180

------------------                 -------------
4pm update
IF TOMRROW is ONLY A MARGINAL DECLINE LIKE TODAY, then the BULK of the initial drop could occur on the 14th and 15th, or only the 15th for this week.  This does nothing to change next week.

My original thinking incorporates the 14th open as a fibo converge low, and I still think it might happen that way, but the above is an alternate view.

No comments: