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As mentioned in my previous post, we were entering an area of time where things could get very volatile and they sure did.
Definitive rotation of this cycle was also unclear, at least to me. But now it has come into sharp contrast.
As you can see from the attached chart, we made the projected high on 4/9, more of a choppy plateau than a peak, then had a roller coaster ride down to the projected low on 4/20. Looking at things on a daily basis, this cycle then inverted, making an "in between point" high (on a daily close basis) on 4/23 then proceeded down to the next projected point & low of 4/30...which is where it sits now.
I'm not saying this "is" the low for this current swing down, but it could be. We'll see tomorrow. Anyway, we should have an up bias for the next 5 days if all is well.
If this low persists however, then I would expect, perhaps, an early high which technically is due in 5 days. If that's the case, then I would expect this current low would be taken out with the next low point due on 5-14 or 5-17. This could be the scenario since we are still in and moving towards (so far) a projected medium term low due mid May.
How strong this next move up on the shorter time frame could tell a lot about the next 2 weeks.
If there is a stronger low in 2 weeks on 5/14-17, that "could" signal the end of this overall down move since 4/9 due to a confluence of 2 cycle lows due mid may; both the intermediate term and medium term cycles.
Time will tell.
Lee
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