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

Thursday, October 06, 2011

Market Timing-Whats Next -Oct 6th Still holding on to gains

Oct 6th @ 8:45

Nothing reported this AM to dampen the bull spirit

Any low today, IMV, could retest 1101 and then head higher to close out the week
on a rebound high between 1140 & 1160

Today's 110 tr da cycle seem like it wants to hold onto earlier gains

not overbot yet?

Energy is WANING but maybe not to the point of over the edge
Power data shows today as UP- DOWN -Up with a lower open tomrrow

MONDAY is COLUMBUS DAY, NOT a market holiday - banks are closed
Has shown tremendous volatility in the past on that date

There are a number of longer term fibo convergences next week that could coincide with major
lows thus allowing the price levels to seek lowest possible support levels

more later

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