The key cycle I am watching at the moment is the 1 year from last May highs (the Osama bin Laden/Royal Wedding top !) You can see this in many markets,whether cable or the Dow.Late October also gave a high ...this is 6 months (last week April-1st week May)so it is a reason to think that 12 months may also work.In addition the recent high in stock markets was 4 and 6 months off lows and now we are testing that high so a failure on the 1 year cycle would be significant.Cycles are cycles and mean nothing unless price confirms.Ideally a big fat reversal candle this week.
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