It looks like this swing could be similar in duration and amplitude to the 16th Aug swing . I have outlined the three important swings in this campaign below and if we compare the current move up to the 16th Aug swing you can see that we will balance against the 60 day time period into top - the projected swing from the 14th Oct low into the 9th Dec top measures 56 days so we are running very close to this time period and also the range of 689 points projected up from the 14th Oct Low = 4180 as a potential target which is 100 points off the current top . The sketch below outlines the three little pullbacks within the recent swing up measuring 213 and 122 pts and around 2 days for each pullback so if we do move down from the 1st Dec top the next minor Cycle comes in on the 5th Dec so if we do drop into this point bearing in mind it is only a very short term cycle we could be up for another 3 days into the 9th Dec Top so if we do pullback you could watch to see if price comes back to 3867 or 3958 level which will balance the previous swings but we need a pullback followed by a higher bar to qualify the Cycle . Personally I think it would be better to wait a few more days and get ready to trade off the 9th Dec date which should be a strong reversal point . As the market moves into this date we should be able to determine if we are setting up for high or low. It is always important to TRADE OUT of the Cycle dates and by waiting for these points to roll in we will usually have a clear indication a few days beforehand and then we can check the time periods and swing amplitude against past swings to see if we are balancing against these points . The most money is made by being PATIENT and waiting for the larger Cycles to move in and then we should look to trade out of those points .
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