The 6 month cycle projection of 36,000 has been reached. Our focus is now on very short term cycle projections.
The 5 day cycle projection was around 45,000, but they stalled at resistance. That projection is still out there. They need to get it through resistance at 40,600 and 43,000 first. There’s no 2-3 day cycle projection outside the range of the past 2 days. If they clear 40,600, the conventional measured move target would be around 47,500-48,000.
Here’s a look at the current 40 minute bars as of 6:45 AM ET.
