Hilbert Sine Wave (Emini 135 minute)
Hilbert sine wave cycle turning point finally approaching. My primary swing trading time frame is the 135 minute Emini chart (exactly 3 bars per day). Back at the beginning of January, the Emini broke below the last cycle low turning point – signaling the start of the last down trend move.
The Hilbert sine wave indicator has now crossed – signaling a cycle top is close by. This pattern of retracing into a cyclical turning point after an extended trend move is very consistent. I have likened it to an Elliott Wave 4 to 5 pattern before. In addition we appear to have distribution volume today with resistance around the 1,370 level.
Good luck with your Emini trading.