No Relief for Bulls until Next Week
A short-term trading cycle averaging 24 trading (not calendar) days has been identified. The 10/1/14 break of the cycle low on 9/12/14 confirmed the short-term change in trend from up to down.
A perfect cycle low of 24 days targets the next low for this Thursday, 10/16/14. As the chart shows, this cycle varies anywhere from 16 days to 28 days.
If the cycle is "long" and extends to 28 days on Wednesday, 10/22/14 it will come very close to the Hybrid Lindsay forecast for a low on the following Monday, 10/27/14.
Take a 'sneak peek' at Seattle Technical advisors research.