July 24

The projection for the continuation of the move up that I discussed on Wednesday and the subsequent turn seems to have worked out. So with that a sell signal (sub-cycle top) was issued on the 60-minute system on Friday and we finally got a Down Cycle signal today on the 60-minute system to correct the Up Cycle signal that began on June 8. This was a pretty average Upcycle duration and so if we have an average Downcycle duration, it will last somewhere around 15-20 days.

Based on the performance of the 60-minute system this year, feel free to use that as a contrarian indicator if you wish :)