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The array turning points can occur on a intraday or closing basis so any new low will be on a intraday basis and not on a closing basis but that will have to happen on a turning point so the close for the 2nd on the Dow looks like a turning point on a closing basis, however the empirical model points to the 3rd so we may see a intraday low occur today.
The daily report says there is some support lies intraday at 25716(daily bearish) so you could place a stop loss just below that level. Since the next bearish is at 25833 on the daily level that should function as immediate support unless broken, then look to the next and so on.
You should take note that a monthly bearish reversal is much more important than a daily or weekly. Some support is likely to be found at that level.
So If you arrange the reversals from the monthly and weekly reports and combine these with the daily reversals, you will have the best possible MAP of exactly where support and resistance stands at any given time in the market.
As has been discovered
and published here before, whether you get a profit or a loss from the reversal is almost random. Daily turning points are shown every other day at times, so no value here either. Most people here have commented that the forecast arrays do not make sense to them.
The reality is that during the last two days we have had a rare landslide economic event, and an easy day trade based on it. It would be absolutely reckless to draw any conclusions about Socrates performance based on the mere fact that Socrates elected a daily bearish reversal after the event.
That is why I wrote "Single observation Statistics". In a similar case, as published in the private blog, such a bearish reversal simply failed. Armstrong himself has even stated before that daily reversals are not good to trade because of randomness in the daily time frame. Not that I would say that weekly reversals are any better because they are as random as the daily ones.
Yet Martin Armstrong personally raises his head and praises the system based on this singularity. It just shows his extreme over-confidence, arrogance, recklessness and incompetence. This moron has probably never heard about due diligence in his life.
Nobody needs Socrates to trade such events. Even the statements that he makes here contradict themselves, and have multiple outcomes, being ambiguous, so no value there.
In practical terms, the momentum generated from these two recent economic report events was, as expected, rather limited, so a one to two day market response would be the logical outcome, not a break through short-term support. So the Socrates marketing is all nonsense as much as the Socrates signals themselves.
Martin Armstrong is a charlatan, and he spent 11 years in jail for that reason but he has not changed.
Read this blog
starting here to find out more about computerized fraud.
See
armstrongecmscam.blogspot.com for a more compact view of major findings posted in this blog.
Every single defrauded person should report their case, see
Where and how to complain
