The 15 Minute Chart shows that both the Birds [ http:// theidiotandthemoon.com ] CCI 6 and CCI 20 have
broken above -100 indicating that some degree of a rise in Price is underway. The 60 Minute Chart shows that the Birds are forming higher Lows while the Index Price has been forming lower Highs . The Canary [ CCI 6 ] is 8 points shy of the -100 level and is rising towards that level. The daily Chart shows that only the Canary [ CCI 6 ] , while still below -100 has been rising while the Price was falling . This is an indication that a reversal may be at hand . The other Birds [ CCI 20 and CCI 50 ] are indicating that that the rise will probably be short lived .
So far the Index Price has risen from 1291.98 to 1295.12 . I am assuming that the rise will continue and, in my estimation, once 1297 is cleared the target will 1310 +/-. If it is a normal retracement of the correction [ 1415.32 - 1291.98 ] then the levels 1321 and even 1339 could be tested . Just remember that this rise will be short lived . like Icarus flying towards the Sun.
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