Friday, 17 September 2010

13:59 BST - SPX Time Symmetry Suggesting a Potential turn?

Some time symmetry in calendar days and traded days might be suggesting a top today:

SPX Daily:

In calendar days and traded days from the lowest low (and lowest close) in July to the highest high in August and from that high to the lowest low in August, there's a cluster of days within this time symmetry period. With the larger, March 2000 cycle that I showed on Wednesday (see this post)  coming in next week, we would seem to be in a zone where there ought to be a good chance of a market turn.

Obviously, as I made clear in that post, we have to see price action that confirms this - something we haven't yet seen.

Still, it'll be interesting to see how or if this plays out.