Taking a closer look at the hourly cycles on multiple time frames.
CCI 8 - the cycle remains UP into Wednesday and possibly into early Thursday before correcting
CCI 13 - the cycle remains UP into Thursday
CCI 21: the cycle is still UP but isn't coming off of diverging lows
CCI 55: remains UP. Extending the trend line connecting the diverging lows indicates a cycle top in early June
CCI 86: remains UP. cycle top possibly indicates extension into mid-June.
Given most cycles are pointing up, we should expect a continuation of this trend. 1670-1680 seems attainable even into Thursday this week.
CCI 8 and CCI 13 uptrends should end by Thursday. The larger cycles are still pointing up so the dip generated by a correcting CCI 8 and CCI 13 should be bought.
I am expecting a medium level correction after this week into the full moon on 5/24, but again that dip I expect to buy.
Other notes for myself:
1. 72 hours from the 1536 low to the gap at 1600. as of 5/13, we are 48 trading hours from the gap. We still have another 24 more trading hours until a possible high.
With each trading day being approximately 7 hours (including the 30 minute kiddie hour), we have roughly 3.5 trading days left to hit 1680.
This puts a possible estimated 1670-1680 target around mid-Thursday.