Markets are at very important juncture. Make it or break it....
Caveat: These support levels must be kept and break higher has to occur at higher volume to keep the u-trend going!!
There are lot of positives for the bulls. Whenever, market tried to sell-off, it reversed itself and closed higher than the lows of the days. More importantly it has respected the support, e.g. SPX @ 1,330, QQQ @ 57.00 and DJI @ @ 12,400 (with exception of the one day). Recent sell-off hit tech heavier than any other index. But the support of 50-MA around $57.00 held in. Similar case is true with other indices, under the pressure of selling, they have been holding tights to their support lines.
Time Cycles did affect the markets. It kept them previous trend checked in. And the predicted time cycles of 04/01-04/04, also kept many leaders stock checked in for few days. .
AS stated earlier in one of the posts, I would like the markets to gap up/shoot higher in a big bar above these consolidation levels caused by the time cycle. Watch the volume with hourly chart.
