CBA 3rd Jan

Keep an eye on the 3rd Jan which looks like it could set up for Low. CBA trades on the Australian Stock Exchange and is the second largest stock on the ASX by capitalisation. Perhaps of you may not follow this stock but it would be worthwhile keeping an eye on particularly as we move into the Cycle date. For the moment I will just present a rough outline examining the time periods and price amplitude of previous swings in comparison to current market structure and this evening I will post the accompanying pictures and the complete Forecast.

The projected time period from the 25th Nov Top into the 3rd Jan low measures 38 days and we are currently down around 6.7% with price around 101.85. The current Low will have to get taken out so there is a chance we could trade down to around the 101.00 level which lines up with my price calculations. But the main feature should be a breach of the current low even if a marginal penetration. Looking at the notes below which I will post this evening you can see that the current swing of 6.7% has exceeded the amplitude of all previous swings except a few which we will concentrate on to get a better estimate. The drop into the 1st Dec 2021 measures 16% so it doesn't look plausible to balance against that swing as we are moving into a cluster of three intermediate Cycles. The next swing of significance is the drop into the 12th May 2022 which measures 7.5% so this would appear to be the closest fit so we should look for the current swing down to balance against this point which will give us a good idea towards the extent of this move. In relation to the time periods of previous swings the current period of 38 days overbalances all of the previous campaigns by quite a margin except the 57 day period leading into the 3rd Oct Low. If we do make Low on the 3rd look for price to stabilise even if on a 60 min chart and by examining the intraday pattern during the course of the day we should be able to ascertain if we are holding Low and making higher lows on the intraday chart . From the 3rd Jan there is a good chance we could be up till the the 14th Feb where main Top is indicated which is an Anniversary date. So we could be up for around 42 days so once the base becomes established I will try to work out the Minor pullback points which may enable us to pyramid our position up.