Looking at some potential timing points for this index . As we move into these dates we can look at the pattern of trend and volume characteristics which should provide us with further clues to market direction .
180 deg in solar time comes out on the 2nd May 2008
*180 deg in civil time comes out on the 5th May 2008
These two cycles are only a few days apart as 1 deg of one year is equivalent to .098 of one day so we have a three day difference over 180 days . The current trend is quite strong and thus far this rally has overbalanced time and price in comparison to other counter reactions .
1 : The first cntr into 252.00 ran 30.46pts in 14 days .
2: The second cntr into 246 ran out 16.35 pts in 11 days
3 : the current cntr has run out 42.00pts in 42 days and is against the 45 deg angle .
5th May could be a minor reversal point and if time and price balance out at approx 243.00 we could exit our positions and sit on the fence at least .
The current trend is printing higher highs and higher lows on the 3 day swing chrt so I think if there is a reaction off the 180 deg point it might only be temporary , perhaps a three - four day cntr trend .
Time setups provide a range of possible outcomes that may or may not work out and one has to weigh the short term or long term times against the prevailing position of the trend and the characteristics of that market around key dates .
The next timing dates are * 6th June & *13th June 2008 at 90 deg from 195 low
Major and Intermediate time cycles moving into proportional alignment could setup a change of trend . so watcjing these dates with interest .