Friday, September 17, 2010
As we broke above the 1940 high confirming the break out of this flag formation with a gap makes an adjustment necessary to the overall strategy. This flag confirms a target of 2100 but gives at least a strong indication of a retest of the highs in the 2050-60 area. The Jupiter Uranus conjunction is a strong pattern being exact on the 18th but as both are slow with jupiter moving faster this effect will be valid for a few more weeks overall. The Full Moon exactly on this pattern on the 23rd this month will push the effect to a turbo boost as it is already. Testing the weekly Bolls at 1960 is almost reached and we have 3 more rising days at least as we are heading for a TDM 13 count being currently at 9. Another strong indicator is the top driver of the NDX Apple which marks a weekly 11 this week heading for the target zone 290-300 - hence we need at least one higher weekly close as we are already above weekly Bollinger we are in exhaustion mode clearly and parallel to NDX at a daily 9 count. We should top out for this wave end of next week ( or early the week after) in the 1980 -2000 zone before dropping back to 1900 testing the gap thereafter. My expectation was for a 2 leg cycle over 2 months til mid term elections but the upside targets have to be raised clearly. An update on the fine tuning is due early next week as soon as we have the 13 count on.
Posted by getagrip at 1:50 AM