OnLine Cycle Analyst's Seminar - Cycle Identification - 11

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Prices have made new lows, the 5DS oscillator has turned down, and it looks like it could drop for another week or two, and prices are in the timing band for a weekly cycle bottom. The 118 price objective is derived from the "B" high, the descending triange. It is the same distance below the support line as "B" was above it. Prices don't always reach the exact price level, and a guideline is to use plus or minus the total distance from "B" to 118, which is approximately 1.3 points. We will watch for this low to occur between 119-10 and 118.