Daily and Weekly Projections Revisitied.

We got an initial bout of selling as was suggested based off the probabilities and a rebound which wasn't unexpected. Ultimately there is no material change in the outlook. Unfortunately for analyst's, markets don't go in a straight lines based off probabilities. Time is also a factor and waiting is an inevitability. Constructively, from a turn standpoint, it is good that upward biased channel lower boundaries have been breached which is an indication of buyers not being able to hold their ground relative to sellers. No forward progress has been made so at this point there is no reason to assume that the prognosis of weakness from this ideal turn area shouldn't see follow through. Below is the daily and weekly projections and the intraday will be made available as soon as the computations are completed. Hope you all had a constructive trading day.

If you have any questions about our analysis or any of our analysis systems, contact me at any time at john@mcm-ct.com

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