- 1390-1395 remains to be a highly significant support level which should hold the market unless the seasonal factors are stronger than expected--which is a very high possibility.
- Cycle interaction indicate that between now and November 5th a very large decline could occur.
- Note that the market peaked at the right extension of the trading cycle on September 14th (blue circle)
Friday, October 12, 2012
The Decline has Commenced
The trading square based upon the last significant decline--April 2 - June 4th has been violated which suggests that the next intermediate cycle decline has commenced,.