almost reached the 674  price objective at the lower median line.  686 has triggered a new entry up to 697/707/718.    682 reverses the trade to a short.

Wed Nite @709.

we are eight days into this down leg. we have met long term downside targets. expect consolidation, then look for the next trade.

the next down side objective is 672/618/590.  this down cycle ends 3/18.  need a trade above 731 to start a retracement of this down move; then first upside objective is 782.  buying pressures turning up and price divergences showing at these lows.

the intraday up move stopped exactly at the median line and the short cycle target, a trade down thru 699 creates the price objective of 674.  a trade thru 716 restarts the uptrade to 727/732.

Tuesday nite @770.50

nice rally off the lower medianline on the monthly lows. monthly and weekly divergences still in place.

Daily reached the 745 downside target on monday.  need 792 to start new uptrend to 842.

intraday pressures extended,  need to cure.  next upside target 795.50. 763 starts a pull back to 751.

Sun Nite @ 764.50

have touched the downside medianline on the long term charts.  just below that support line is an old unmet target of 716.  still need a  monthly close above 916 to begin a retracement up. a 20% rally from here still doesn’t get a retracement started.

trading as before, sideways, between the 738 low and the 943 weekly high.

Daily – trade direction is down and is oversold. longer cycle up and shorter cycle down, selling pressures over extended.  next target is 745. need 803 to start the next move up.

inside a short trade to 755 intraday. tried a late day rally on friday and had no follow thru.  the trade thru 768 starts a  long retracement to 785, 752 stp (if selling comes in at the friday high move stop to breakeven…. ) but have to wait for the selling pressures to complete, perhaps overnight, before entering the trade.  a 10:30 CST cycle end monday morning may be important.

Longer time frames showing downward pressures. Have reached the end of the weekly downward cycle. should see upward pressures til early april.  Ben’s PTI has moved thru the take profit point and is now signalling a new move up.

Daily –  selling pressures extended down, next target 745.  at multiple downside price objectives and intraday is signaling a move up.  829 is the entry price with a first objective of 884.  beginning a new cycle, which will end 2/26. dominant cycle peaks 3/5 after that significant downward pressures til  3/20.

the stimulus theater has frozen the market.  two rallies have been unsucessful in breaking out of the sideways channel.  so trade inside the channel. 

Monthly – trading between 942 and 738.  the downward trending medianline acting as the pivot.  need 916 to start a retracement up.  724 will restart the down trend.

weekly – 848 has started a weak retracement up with the next price objective of 899.  796 will stop the trade.  pressures down thru 2/20.

daily – trading between 796 and 877.  this cycle ends 2/13. and is at a confluence with a price objective.  look to the intraday to trade.

flat – intraday is extended down and has met a price objective.  needs time to cure.  Lower median line support at 805 ; declining .25 per hour.

Monday midday @ 843 – the market has pulled back to the 807 level and now is attempting a second leg up on the daily time frame.

Monthly – trading at the median line of the down fork.  916 starts a new retracement up. and 724 retarts the down move.  divergence remains in place.  downward time pressures will begin in May 09 and remain in place throught 2009. 

Weekly- this current down cycle ends 2/20.  848 will start a new move up. but the EP for the down move is close by at 806.  the indicators are showing divergence warning of a possible rally.

Daily – in the down move next price objective is 795; indicators have turned up, need a trade thru 848 to start the upmove.  the down cycle ends 2/6.

Intraday – has started an upmove target 863 and already at an intermediate price objective – use an 832 stp.

 

Monday Close.  seeing some upward pressures inside the longer downtrending cycles.

monthly –  still trading inside the low and the new entry price of 916.  724 will start a new downmove.

weekly –  806.50 EP for the short entry to next downside objective 740/670. 

daily – flat at the 807 short price objective. buying pressures.  new uptrend starts at 848 to 898.

intraday – moved up to intraday day target 846.  this uptrend in a pullback to 827, next down side objective is 816.  pressures are down but could cure overnight.  836 will restart the intraday up move.

 

the weekly break of the 875 has taken the market to the 807 down side price objective. 

monthly – the long entry point of 916 has acted as resistance.  724 restarts the down move. upward divergence remains in place at these lows.

weekly – 806.50 is the entry point for the weekly short move to 740.50 low/then to 669.50. pressures have turned down into the 2/20 cycle end.

daily  – pressures are turning up.  the 807 short price objective is acting as resistance.  775 is the next downside objective.  848 is the long entry price to 898.  Ben’s PTI and Mobility has signalled a buy.  this cycle ends 1/26.

intraday is extended down, looking for a reason to move up.  need a trade above 816.

Daily in a pullback within an uptrend.  intraday at a downside target which equals the short entry point on the daily.  expect a retracement up. 

monthly – no change.

weekly – trading between the long entry and the first price objective.  in the congestion suggested earlier. cycle ends 2/20.

daily – flat.  in a retracement within the uptrend.   cycle ends in two days 1/14 and dominant cycle peaks 1/20. upward pressures begins the 14th.  Ben’s PTI is showing further short term downward pressures.  a close below 874.75 restart the short trade to 807. 

Intraday – downside target price reached.  look for consolidation or retracement.