POWER DATA ONE WEEK AHEAD - Provides an 80% Correlation to the SPX

Monday, July 18, 2011

Market Timing-Whats Next -July 18th - Closing Report

JULY 18th @ 8:45 am
A lower open needs to HOLD--1306
and offers a short term Buy
Friday's closing rally looks like it was 5 wves OFf the 2:30 TURN
 IF 1298.61 was WAVE 1 of 5
& wave 3 was @ 1356 on July7,
then wave 4 IS STILL IN PROGRESS within 1306 to 1338.
UNLESS it breaks UNDER that 1298.61
Even then IT could be forming an EDT as long as 1298.61 isnt smashed
by a large margin

I would think that holding 1306 level is the first Key to the above puzzle

Today's 258bars DUE at 11am could truncate to 10:30
since the late turn Fridy DUE @ 3:30-228bars was an also hour early@ 2:30

And 26 HOURS is due at 10am

CHOPPY trading this week between 1306 & 1338
makes for great DAY TRADING ONLY till August 2nd completion at wave E @ 1288

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