So far we're seeing good results with the index rally off the daily time and price lows as discussed in previous articles available through the link above. Note also on the weeklies; we did not see additional short side triggers as the 6 period CCI bounced on top of the zero line on SPX, INDU and RUT, and NDX 50 CCI held above zero, actually triggering an additional weekly long side trigger for Nasdaq. While we may see interim highs and relatively minor (intraday) timing highs, the most solid timing highs on the dailies are shown on the SPX and INDU charts.
S&P daily showing timing cycle highs pointing to this coming weekend for a possible interim high, but the focus of the timing highs comes in for August 4th and 5th. This will be particularly potent for a potential downside reversal if we're seeing the 1000 – 1019 target zone.
Dow time cycles July 29 th for a possible interim high, but much stronger on August 5th and 6th.
Nasdaq timing cycles not as clear, but we're approaching the next daily target. Major target 1594 in sight as well.
Weekly charts – S&P cash:
Mark Braun – Market Geometry