I spent a good part of the weekend installing the “Hidden Cycle” patterns (green on the daily) into my Cycles Model. I had theorized last December that this Cycle should be tracked, since it could become a dominant new Cycle. The theory was tested and proven, as the “Hidden Cycle” has now become the dominant one.

Last week I had speculated that the Friday Pivot of an older Cycle would be a low. I was wrong. Instead, Thursday was the Pivot low of the new Cycle. That means today is the Pivot high, 60.2 days from the August low. And this Friday will be a Pivot low, as I had earlier surmised. It appears that this may be the “mini-crash” that I had been anticipating.

The target for today’s Pivot high appears to be mid-Cycle resistance at 1983.91. The bounce should only take a couple more hours. Possibly the market may turn at the close of the European markets.

The “mini-crash” appears to be capable of taking out the daily Cycle Bottom at 1778.74. In fact, my target is the Minor Wave 4 low at 1737.92…this Friday.

Let’s see how close the market gets to the targets.

Regards,

Tony

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Disclaimer: The content in this article is written for educational and informational purposes only. There is no offer or recommendation to buy or sell any security and no information contained here should be interpreted or construed as investment advice. Do you own due diligence as the information in this article is the opinion of Anthony M. Cherniawski and subject to change without notice.

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