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Are we there yet?!? part 2
104

Are we there yet?!? part 2

by MoleAugust 18, 2008

Most likely, yes.  Positively, no, we have not recieved all of the signs we were awaiting.  But, on a lighter note, we have registered enough to be able to comfortably call the decline in place upon further weakness.  You follow?

Let me review…We have the $VIX turning up from a bounce off of a minor resistance, that’s bearish.


We have a nice retest and a turn up in call put ratio, that’s bearish too.

We have the $SPX and $INDU, and a horizontal trendline in $SPX.  That’s a two-fer today, and that’s bearish.

Those of you who know me, know that I keep a real close eye on the breadth, measured by advancing and declining issues, of the major indexes.  Today was a beautiful sight when glancing at my daily “breadth-o-meter.”  Here’s what I saw today.  By the way….it’s bearish!!

Notice the two blue boxes.  The first one is breadth, read as a straight percentage for negative issues (i.e. $INDU had 100% negative breath, all issues were declining).  Anything over 3:1 in either direction is major, and we were sporting about 4:1 negative across the board today.  The second blue box is a volume ratio.  The larger the number, the more negative the volume.  Notice the 120%+ on the $OEX, can someone say “large scale liquidation?”  What a great day to start the week off.

Let me finish by clarifying my timeframe of the earlier targets.  This targets should take a couple of weeks for the markets to reach, not likely extending past 2 months.  And, as I stated earlier, these represent only preliminary targets, and the final resolution targets remain significantly lower.  Lastly, the market rarely moves straight in one direction…be prepared for some wild whip-saw rides as we come crashing down, and keep in mind that the steepest rallies occur in bear markets.

So I leave you today with a quick haiku, as we are simply waiting for one last confirmation.

Lone bear atop a

hill – waves crashing below.

Furious beauty.

Skol!


About The Author
Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at various social media waterholes below.

  • as

    bears are now more and more satisfied which means that we're not gonna fall yet. maybe in 2 weeks but not now.

    i think last rally up is possible, do you dropped your “SPX 1320 before DJIA 10k” prediction ?

  • Gumbo YaYa

    Molecool, are you the author of this blog?

  • https://www.evilspeculator.com berkshire

    Mole and I alternate on a daily basis with the authoring of the posts.

    Skol!

  • molecool

    Berk – you got to change your algorithm – it doesn't like zero divisions. You can do something like this: =IF(D2=0,'',C2/D2).

  • molecool

    I only post the interesting articles. If you find yourself falling asleep reading, it's most likely Berk's.

    Just kidding!! Berk has a different style than me and I really enjoy how we mix it up and cover things from different angles. A bit like the Jeff & Eric team on OA – by collaborating it becomes larger than the summary of its parts.

  • http://z-stock.blogspot.com/ zstock

    I know I posted BUY RS and EWZ. But now I can't find where I posted it.
    6 out of 6 EWZ holdings in AH were up 1 to 4% in AH, before re-treating back to +1% or +0.5%

  • http://z-stock.blogspot.com/ zstock

    $RUT, that hit 764, that pretty much signaled the top. That was two days ago.
    I see support at 730, with another try for 760 after that. That will fail.
    Once the IWM / $RUT tops, it's hard to top again, imo.
    August rally looks finished. Just lower highs and lower lows, from now on.
    Next thing to figure out is will VIX go to 40 or 45?

  • http://z-stock.blogspot.com/ zstock

    VIX, I know you don't trade the VIX calls. We'll the OTM and ATM calls didn't move today.
    That means they ( the marketeers) are pricing in a big move.
    There are some guys that can produce the percentage of this move, based on the lack of movement in the VIX calls. If I can find that Percentage move I'll post it here.
    I'm thinking it's gotta be big.
    $300K moved into the VIX SEPT 25 calls, that's HUGE

  • http://z-stock.blogspot.com/ zstock

    Sure do like that breath – o-meter.

  • https://www.evilspeculator.com berkshire

    Perhaps I should. But at this point, I know the value of undefined.

    Skol!

  • https://www.evilspeculator.com berkshire

    I thought I would throw another great potential trade set-up into the mix before things got too interesting this morning. I am eying WY. Yup, the good old lumber producer. Needless to say, the fundamental trade is there, especially after HD's bad bearish guidance this AM. The technical trade has a very nice set-up too. We have a bearish engulfing candle right at resistance, as well as a trendline waiting to give way. As soon as WY crosses below the orange trendline, I will be short, looking for a target towards $40.

    http://screencast.com/t/v5wFBS10

    Skol!

  • https://www.evilspeculator.com berkshire

    Nice opening thus far. This is some serious follow-through. Let's make sure that we close lower than we open today, and we should get our final piece on confirmation.

    Stay tuned, it is shaping up to be quite a week.

    Skol!

  • lisa

    I am sure the market will close much lower than the open if you look Asian and European markets.

  • Gumbo YaYa

    I was watching the same one with the same chart lines drawn. That's got to be some nice confirmation if I do say so myself…

    Good eye.

  • iopt4u

    Any trades to keep the portfolio Delta neutral?
    VMW,ZMH?

  • Gumbo YaYa

    So, I got to ask…what's with the Skol! at the end of every post? Are you using that in the traditional sense?

  • https://www.evilspeculator.com berkshire

    I agree man. Always a good sign when we are on the same page. I got your e-mail and just haven't mustered together a response. Hope all is well with you.

    Skol!

  • https://www.evilspeculator.com berkshire

    Yes, I have some of those coming. They will mostly be longer term, but a delta negative portfolio is where it is at right now.

    Skol!

  • https://www.evilspeculator.com berkshire

    When in Norway, they told me that Skol was essentially cheers in Norwegian. I am trying to retain some of my cultural experience, and thus you will get the occasional “ja” as well as Skol!

    Skol!

  • http://www.for-really.blogspot.com Jana

    Fo shizzle.

  • molecool

    My sentiment as well – Europe is getting killed. Hit their lowest since 2006 – nasty – just the way we like it.

  • molecool

    Did he spell it right?

  • https://www.evilspeculator.com berkshire

    So you're watching CME for a bounce today right?

    Skol!

  • http://www.for-really.blogspot.com Jana

    It IS bouncing – the question is: How much will it bounce?

    As much as an A cup? Double D?

  • https://www.evilspeculator.com berkshire

    Girl, if you were expecting Double D's out of this you're at the wrong club. Looks like it is finishing up right now. I'd say it is a healthy A cup right now…do you disagree?

    Skol!

  • http://www.for-really.blogspot.com Jana

    And thank you for putting NIHD on my radar-I got in when it was up earlier today.

  • http://www.for-really.blogspot.com Jana

    Very well, I'll go with the petite one for a change.

    Shizzle!

  • https://www.evilspeculator.com berkshire

    Hey, If I got to choose, don't think I don't prefer the Double D's, but I take what market gives me, and she threw out a small one today…Does have a nice ass though…

    Skol!

  • http://www.for-really.blogspot.com Jana

    That she does. Good ole Midwest girls.

    Okay, I am almost in with a limit order, just gotta pay the cover.

    Shizzle!

  • molecool

    Today presented a good entry – love that one.

  • molecool

    In case you guys wonder what to load up on today, here are some of our favs:

    NOK, GLW, ABX, DE, AFL, ALL, TXT, BBT, CVH, XLF, FWLT, BOOM, LDSH, CRS, CMI, PCP, COL, TGI, PZN, DECK, NIHD, IYF, (SKF), CMG, WY, ILMN, RIMM, CCJ, XLU, RKH, AMGN

  • molecool

    My rule is: Anything larger than a handful is wasted.

  • http://www.for-really.blogspot.com Jana

    You should consider revising that to “mouthful”

  • https://www.evilspeculator.com berkshire

    Since I am in such a giving mood, I will throw yet another free-be your way. Granted, I did mention this in my Ute Ute post, I understand that many people have something against reading…So, here goes.

    Check out the nice movement in MLM. I must admit that I bought a starting position on Friday with that nice push up into fib resistance. Today's move is looking pretty good, but I would like to see some volume confirm the price action. Either way, we got a nice break of the uptrend as it stands right now, and I thought it was worth mentioning…again.

    http://screencast.com/t/dUjpmzuIpJ

    Hope it works for you!

    Skol!

  • https://www.evilspeculator.com berkshire

    God gave you TWO hands and a mouth…right?

    Skol!

  • http://www.optionaddict.net/blog/ beans

    hey berk
    just found your blog.good stuff.got you bookmarked.

  • Gumbo YaYa

    Nice. Again, same chart, same target, same setup. Love it.

  • calibear

    nice. MLM looks good

    thanks!

  • https://www.evilspeculator.com berkshire

    Good…I guess we both are/will be banking some nice coin. We both are on the ball.

    Keep up the good work.

    Skol!

  • https://www.evilspeculator.com berkshire

    Good beans…Glad you found us, glad you like our work. Keep coming back and spread the word.

    Thanks.

    Skol!

  • lisa

    I got to ask too… What's with the “Haihu”?

  • https://www.evilspeculator.com berkshire

    I enjoy writing immensely, and I figured that the best way to keep myself entertained is to add some pleasure writing with the work. Also, there is something to be said with the simplicity and difficulty of the haiku. Anyway, I hope you can learn to appreciate them…if not, just ignore it.

    Skol!

  • molecool

    I know that position – LOL 🙂

  • http://z-stock.blogspot.com/ zstock

    ICE,NYX,SCHN,CENX, all made the buy watch list. Strange combo of buys, even IWM looks like a buy overnight. I'll admit though, i'm using 1% stops

  • molecool

    I post 20 picks and get NO comments?? 😉

  • molecool

    You mean OUR blog 😉

    Hey, took you long enough – glad you made it though…

  • Gumbo YaYa

    Sensitive, aren't we? Sound like a real married couple already. 😉

  • molecool

    It's bad enough Berk leaves the toilet seat up all the time…

  • molecool

    I still kick myself for not grabbing ICE at 102 – you snooze you lose.

  • molecool

    BTW, it's a haiku

  • http://z-stock.blogspot.com/ zstock

    BAC is at a critical support line 28's, and it seems illogical, but I think BAC holds going into tomorrow.

  • http://z-stock.blogspot.com/ zstock

    ERJ , that pesky little airline from Brasil, is finally toast__That's a good a short sell, As I'm going to get today.

  • http://z-stock.blogspot.com/ zstock

    She was panicking at ICE 105 back in JULY when ICE dipped to 80__
    She didn't use a 3% stop, so she ran the whole way down,
    She asked what should she do? , and I told her ICE at $80 is the bottom and wait for $104 to exit.
    Moral is, sometimes I can see what other people's positions are going to do, better than my own positions.

  • molecool

    Let's hope so – I grabbed some XLF today – also sitting on MS. Generally, I would recommend FOTM options on anything financial. Less pain this way if the PPT pulls another trick out of their immense hat, which they will.

  • http://www.retracementlevels.blogspot.com 2sweeties

    z_
    what's your call for Goldman?

    I mean the bottom… Waxie says 125… … if he's right… what's your forecast for that one?

    we may use that level as the next bottom for the general market…

  • wager1

    I've been itchin to short ILMN. I see the chart but still Biotech's been strong. But if things cascade down it will too. I like the charts of CVH, CMI, BBT, TGI and COL -though all appear to have big potential.

    Very much appreciate the look and especially the reasoning and support above.

  • exintrunk

    you seem to indulge in self-flagilation more the a healthy normal person would…..:)

  • Scoops

    Or Wynn at 115 a few days ago.

  • exintrunk

    everyone must be busy checking the charts……thanks for sharing MC

  • molecool

    What do you mean? Because I admit when I miss out on a trade? Self-realization and a commitment to being objective about yourself and the action taken during the trading process are essential in growing as a trader. Nine out of ten traders fail because they keep doing the same thing over and over again and never question why. That and not being able to stick to a trading system.

  • mimi66

    Are we staying long?

    No charts tonight? I love your charts!

  • molecool

    Well, my setups have been in the making for weeks now. However, it's not good policy to jump in with both feet the second the market seems to turn. I grabbed PENN instead which is more overbought and presented a better entry. There are tons of great trades out there – finding them is the key…

  • http://moontrader.wordpress.com/ Moontrader

    Hey Molecool, Berk and all,

    Here's my analysis, which in part supports your idea of a top – from the point of view of time. I've been trying to find a good technique to add time into my studies, and the most effective I've found is Spiral Calendar. However, the guy who discovered/invented it, wrote a book showing a completely erroneous technique. Anyway, here's my idea:

    http://moontrader.wordpress.com/

    I added a set of studies (MACD, Stochastics and DMA). The ultimate confirmation of a trend reversal would be SPX/SPY closing below the Daily DMA 25×5.

    Any comments?

  • molecool

    Who was long?? Not us!

    Well, I live in Los Angeles and it's still afternoon here and you have to let me hit the gym *sometime* 😉

    I'll be putting up a posting in the next hour or so – stay tuned – and thank you for coming back. We really appreciate your support.

  • exintrunk

    are we a bit touchy tonight? i was teasing you

  • exintrunk

    LOL….. it would be a mouthful

  • exintrunk

    i believe it is breadth-o-meter?

    a breath-o-meter would measure something entirely different

  • iopt4u

    I didn't see this until now. I am in NIHD.
    Of the above stocks, what are still valid or at a good entry point.
    Of course I am going to do my research but if there is preference to start with that will be great.
    Btw, I think you guys are doing an evil job here:)

  • lisa

    Can not wait to read your new posting. Thanks.

  • https://www.evilspeculator.com berkshire

    I would be much more willing to comment if I understood your time equalities. Perhaps if you gave me a few quick lessons I would be able to have more commentary on your analysis. There should be no question before next week is done.

    Skol!

  • http://moontrader.wordpress.com/ Moontrader

    Berk, that's Spiral Calendar. Chris Carolan, who invented it, found out that tops and bottoms – especially during correction times – don't align if you use the solar calendar, but they do if you change it to lunar calendar (one lunar cycle = 29.56 days). So, he went further in his study, investigating the proportions. He found out that many tops and bottoms align through multiples of lunar cycles and square root of the numbers in the Fibonacci sequence. So, the first number of Fibonacci sequence is 1, so square root is 1. The second is 1 as well, square root 1. Let's call this F2 (since it's the second number in the sequence). The third is 2, square root is 1.44. 1.44 x 29.56 = 42 days (rounded). And so on. I prefer to use the odd numbers of the sequence, which gave me better results. Check this out:
    http://moontrader.files.wordpress.com/2008/08/s
    F2 = 30 days (remember, it's 29.56 rounded)
    F3 = 42 days
    F5 = 66 days
    F7 = 106 days
    F9 = 172 days
    F11 = 279 days
    Now, check this chart:
    http://moontrader.files.wordpress.com/2008/08/s
    I explain in this post:
    http://moontrader.wordpress.com/2008/08/04/
    See how two tops and bottoms can project with an incredible accuracy important turning points in the market? What concerns me is that there's a possibility that the first part of the whole correction from last years top might be over, meaning that we might not see new lows this year. I don't trade based on Spiral Calendar, I rather use it as a reference.
    This is a pretty condensed explanation of it. Hope it helps.

  • https://www.evilspeculator.com berkshire

    Great…I will do a bit of studying and some projections of my own and get back to you later today. Seems interesting. Thanks.

    Skol!

  • http://moontrader.wordpress.com/ Moontrader

    You can find Chris Carolan's book on eBay (Spiral Calendar) for something like 5 bucks. The technique he shows in the book is completely erroneous, and he's the only one responsible for dooming what I believe is the only effective study in time for stocks.
    It'll be great to have someone else to discuss it. I've been asking around in different blogs if someone is familiar with Spiral Calendar, but got absolutely no positive answer (I'm lying, there was one guy who said he heard about it).
    And, you know, the less people know about it, the better it works (when it works 🙂 ).

    Skol!

  • https://www.evilspeculator.com berkshire

    Precisely. Which is exactly why I am willing to put in a little bit of legwork, especially for a time relevant item. I suppose at some point, I will need to get his book to read, even if you feel he can't use his own technique properly. Anyway, I am doing some crunching right now, and will look forward to chatting about it in the future.

    Skol!

  • http://moontrader.wordpress.com/ Moontrader

    I do recommend you read his book. You'll learn all about the basis of his research. Then he describes the technique, which, although faulty, is a good starting point.

  • molecool

    Sounds very interesting, moony – will take a look at this. No matter how esoteric it sounds – if it works it's worth looking into.

  • https://www.evilspeculator.com berkshire

    Okay. So you probably use calender days for measurements right? Since we are using a non-trading lunar cycle. Or do you go ahead and only use trading days? To me it would make more sense to use calender days, but just the little screwing around I have done shows more exacting, IMO, ratios with trading days.

    Skål!

  • http://moontrader.wordpress.com/ Moontrader

    That's another reason for the thing being doomed: people see it as esoteric. I've been getting e-mails from people willing to talk about influence of Saturn, Jupiter, astrology, etc… it has nothing to do with it. It's only a different time unit: instead of using the solar day, it uses the lunar day. The difference is a couple of minutes everyday, which makes a big difference when talking about many months or even years.
    Just something to check: January 22nd was a full moon. May 19th full moon as well. Check you charts on SPX to see what happened on these days. That's no coincidence.

  • molecool

    I'm not saying it's b.s. – just saying it 'sounds' esoteric, IYKWIM. And yes, of course it's clear to me that we are referring to time units. The moon has a huge influence on our daily lives as well as the ones of all fauna and flora on this planet. The thought of moon cycles relating to the 'tides' of market cycles is actually not that far fetched. It's not the moon itself making that happen – it's the cycle of life by human beings involved in trading. To that effect Fibonacci charts are as esoteric since they also use mathematical relationships.

  • molecool

    Ha-haaa – you found that character I told you about – LMAO

  • https://www.evilspeculator.com berkshire

    Okay…I can see why you end up using the secondary peaks and troughs. It appears there is a nice simple 30ish-day cycle that lines those up. That would be a 4.5 week cycle, which is very close to one of the theories I follow which suggest a 4 and 8 week cycle.

    So far so good.

    Skål!

  • https://www.evilspeculator.com berkshire

    yup…except you had told me and “o” with the circle above it. Which is considerably more difficult to find.

    Skål!

  • molecool

    That's how I remember seeing it – understand that my Norwegian is a teeny bit rusty these days! Hey, isn't it time you changed your avatar?

    http://www.augustinecentral.com/skol_vikings.htm

  • https://www.evilspeculator.com berkshire

    If and when I find a more fitting avatar than the picture of Terrapin Brewing's stellar Rye Squared with the turtle/Einstein picture, I will change it. Until then…it's the best I have seen.

    Skål!

  • molecool

    I like the Vikings – but you're not into football, so never mind…

  • http://moontrader.wordpress.com/ Moontrader

    I know, it “sounds” esoteric, that's why people tend to disbelieve in it. Exactly, it's the cycle of life of human beings. In his study, Chris Carolan pointed out that human beings have a natural biological daily cycle of 24 hours and 40 minutes, which is the lunar day, instead of 24 hours, solar day.

  • http://moontrader.wordpress.com/ Moontrader

    It's a “conformation” of lunar cycles into calendar days. I don't use number of trading sessions.
    So, F3 = 1.44 lunar cycles, which is approximately 42 solar days (1 lunar cycle = 29.56 solar days).

  • http://moontrader.wordpress.com/ Moontrader

    Berk, that's Spiral Calendar. Chris Carolan, who invented it, found out that tops and bottoms – especially during correction times – don't align if you use the solar calendar, but they do if you change it to lunar calendar (one lunar cycle = 29.56 days). So, he went further in his study, investigating the proportions. He found out that many tops and bottoms align through multiples of lunar cycles and square root of the numbers in the Fibonacci sequence. So, the first number of Fibonacci sequence is 1, so square root is 1. The second is 1 as well, square root 1. Let's call this F2 (since it's the second number in the sequence). The third is 2, square root is 1.44. 1.44 x 29.56 = 42 days (rounded). And so on. I prefer to use the odd numbers of the sequence, which gave me better results. Check this out:
    http://moontrader.files.wordpress.com/2008/08/s
    F2 = 30 days (remember, it's 29.56 rounded)
    F3 = 42 days
    F5 = 66 days
    F7 = 106 days
    F9 = 172 days
    F11 = 279 days
    Now, check this chart:
    http://moontrader.files.wordpress.com/2008/08/s
    I explain in this post:
    http://moontrader.wordpress.com/2008/08/04/
    See how two tops and bottoms can project with an incredible accuracy important turning points in the market? What concerns me is that there's a possibility that the first part of the whole correction from last years top might be over, meaning that we might not see new lows this year. I don't trade based on Spiral Calendar, I rather use it as a reference.
    This is a pretty condensed explanation of it. Hope it helps.

  • https://www.evilspeculator.com berkshire

    Great…I will do a bit of studying and some projections of my own and get back to you later today. Seems interesting. Thanks.

    Skol!

  • http://moontrader.wordpress.com/ Moontrader

    You can find Chris Carolan's book on eBay (Spiral Calendar) for something like 5 bucks. The technique he shows in the book is completely erroneous, and he's the only one responsible for dooming what I believe is the only effective study in time for stocks.
    It'll be great to have someone else to discuss it. I've been asking around in different blogs if someone is familiar with Spiral Calendar, but got absolutely no positive answer (I'm lying, there was one guy who said he heard about it).
    And, you know, the less people know about it, the better it works (when it works 🙂 ).

    Skol!

  • https://www.evilspeculator.com berkshire

    Precisely. Which is exactly why I am willing to put in a little bit of legwork, especially for a time relevant item. I suppose at some point, I will need to get his book to read, even if you feel he can't use his own technique properly. Anyway, I am doing some crunching right now, and will look forward to chatting about it in the future.

    Skol!

  • http://moontrader.wordpress.com/ Moontrader

    I do recommend you read his book. You'll learn all about the basis of his research. Then he describes the technique, which, although faulty, is a good starting point.

  • https://evilspeculator.com molecool

    Sounds very interesting, moony – will take a look at this. No matter how esoteric it sounds – if it works it's worth looking into.

  • https://www.evilspeculator.com berkshire

    Okay. So you probably use calender days for measurements right? Since we are using a non-trading lunar cycle. Or do you go ahead and only use trading days? To me it would make more sense to use calender days, but just the little screwing around I have done shows more exacting, IMO, ratios with trading days.

    Skål!

  • http://moontrader.wordpress.com/ Moontrader

    That's another reason for the thing being doomed: people see it as esoteric. I've been getting e-mails from people willing to talk about influence of Saturn, Jupiter, astrology, etc… it has nothing to do with it. It's only a different time unit: instead of using the solar day, it uses the lunar day. The difference is a couple of minutes everyday, which makes a big difference when talking about many months or even years.
    Just something to check: January 22nd was a full moon. May 19th full moon as well. Check you charts on SPX to see what happened on these days. That's no coincidence.

  • https://evilspeculator.com molecool

    I'm not saying it's b.s. – just saying it 'sounds' esoteric, IYKWIM. And yes, of course it's clear to me that we are referring to time units. The moon has a huge influence on our daily lives as well as the ones of all fauna and flora on this planet. The thought of moon cycles relating to the 'tides' of market cycles is actually not that far fetched. It's not the moon itself making that happen – it's the cycle of life by human beings involved in trading. To that effect Fibonacci charts are as esoteric since they also use mathematical relationships.

  • https://evilspeculator.com molecool

    Ha-haaa – you found that character I told you about – LMAO

  • https://www.evilspeculator.com berkshire

    Okay…I can see why you end up using the secondary peaks and troughs. It appears there is a nice simple 30ish-day cycle that lines those up. That would be a 4.5 week cycle, which is very close to one of the theories I follow which suggest a 4 and 8 week cycle.

    So far so good.

    Skål!

  • https://www.evilspeculator.com berkshire

    yup…except you had told me and “o” with the circle above it. Which is considerably more difficult to find.

    Skål!

  • https://evilspeculator.com molecool

    That's how I remember seeing it – understand that my Norwegian is a teeny bit rusty these days! Hey, isn't it time you changed your avatar?

    http://www.augustinecentral.com/skol_vikings.htm

  • https://www.evilspeculator.com berkshire

    If and when I find a more fitting avatar than the picture of Terrapin Brewing's stellar Rye Squared with the turtle/Einstein picture, I will change it. Until then…it's the best I have seen.

    Skål!

  • https://evilspeculator.com molecool

    I like the Vikings – but you're not into football, so never mind…

  • http://moontrader.wordpress.com/ Moontrader

    I know, it “sounds” esoteric, that's why people tend to disbelieve in it. Exactly, it's the cycle of life of human beings. In his study, Chris Carolan pointed out that human beings have a natural biological daily cycle of 24 hours and 40 minutes, which is the lunar day, instead of 24 hours, solar day.

  • http://moontrader.wordpress.com/ Moontrader

    It's a “conformation” of lunar cycles into calendar days. I don't use number of trading sessions.
    So, F3 = 1.44 lunar cycles, which is approximately 42 solar days (1 lunar cycle = 29.56 solar days).