they haven't opened the door but they did unlock it with the first hit going through the 73.30 contract high. Only another 10 cents but that did unlock the door. Typical procedure takes 2-3 hits to break it open, it doesn't have to hit it again and sometimes it doesn't happen. Number 3 is a creative number in the cycle rotation world, and what my simple mind sees in the mathematical processing world(concerning the trading process), good reason for the saying "3rd times a charm". I have to respect the potentially strong positive cycle energy for this week. Some help from cash trade would go a long way for helping the Launch process. The 67-72 is a very well constructed Launching Pad and today could prove to be Liftoff.
The cycle rotations have been using 14-15 day swing cycles since Nov 1st. The market rotated 3 complete 15 day cycles between Nov 1st through Dec 14th with a double bottom on Dec 14th @ 66.25 matching the Nov 15th bottom @ 66.25. The 4th 15 day rotation had a high on Dec 29th followed by a shallow 2.20 ABC correction @ 70.20 on Jan 3rd. Todays break above the Dec 29th high rotation SCREAMS that an extension for the 30 day cycle rotation is in the process. Along with that process------is also the next $5 extension higher for the 75.20 target. Also in the picture for that 30 day UP cycle, is the $10 rally off of the Dec 14th 66.25 low.
After my head stopped spinning and I confirmed my calculations, I had no problem putting on a pair of longs @ 72.32. I would have been ok with 72.42, the breakout point but when I made the decision that I needed to be long, the opportunity was at 72.32, so I went with it. Damage Control is @ 70.80, so now I wait to see what happens next. A new high above todays high-----allows me to pull my stops up to todays low or break even-----depending on my anxiety levels.