1. TNA stopped at the mid point of the Up Channel B
2. The inverted H&S from 41.55 to 49.92 = 8.37 should end at 58.29 and yesterday’s high was 57.99.
3. My belief is that the 1st rally 41.55 to 49.92 tells u something and if I assume that to be 50% (confirmed by H&S ) of the total expected move then its fair that the total move should end at 58.29.
4. We have been up for 3 days and 4 days is in a row is very low odds.
5. We are done with July 4th probly 2nd most important date in Gann’s books next only to Thanksgiving on Nov. 24th. Market will show a change of direction at this point my opinion is it will go down.
6. I have other time cycles pointing to down.
I know there is loud noise about a ECB rate cut. But have you looked at EURO it is not looking good. It rallied from 1.240 to 1.270. Now it is hovering around 1.254. If all the problems are fixed and rate cut is in the air should this be at 1.30 and up. There is some problem here.
Above all we should be getting some very important stats very soon. My calling this a market high if not a a second wave top is a bet that the numbers are going be bad.
Anyways you get what I mean. If the market opens plus I plan to short it.
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