The tradable high pivot I called
for came in on 7/17 for the DOW and S&P and 7/19 for the NADAQ - not quite
the order I expected but right on the forecast
dates.
It is now time to consider when
this down move will end and if it will continue on a longer time frame basis.
Friday, 7/27 appears to be a critical date - it is a Near Impulse
date.
We can expect either a low pivot
or an acceleration to the downside around Friday. Below I have listed
the target prices and critical weekly close values. If we close below the
weekly values, look for continued decline on the weekly
charts.
If we reach the first target
levels and reverse, we can expect the bull to continue its
run.
MARKET
1st Target 2nd
Target Weekly
close
Pivot Research & Trading
Co.
----- Original Message -----
Sent: Monday,
July 16, 2007 8:23 AM
On 6/23 I posted that a tradable
low for the major indices would occur on 6/27 or 6/28. That low was 6/27 and
we are now approaching a tradable high pivot. Expect the high to occur on
7/18 or 7/19 with the NASDAQ cracking first on and possibly topping
tomorrow.
Pivot Research & Trading
Co.