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Mini Panic Close at Hand?

11-14% Sudden Drop Possible

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#11 SemiBizz

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Posted 17 October 2016 - 06:47 PM

This was today's SPX Forecast, you might find it of interest:

 

The daily chart below shows our present situation - I outlined earlier in the week the "Platform of Lows" support and this time we outlined that the platform of lows also features the first candle in the sequence which is the anchor for the present trading range... as it is the "LAST DAY OF EXTREME VOLUME" from the September OPEX... So that range is 2131.20 - 2146.48 and as you can see we're breaking down out of a LONG SIDEWAYS MOVE, we had a lower low this week on Thursday and then a lighter volume bounce on Friday... and that move failed to break the low of the REFERENCE CANDLE from 9/16 (last day of volume).  Yet we closed near the low and the SPX closed up fractionally.  Closing inside that reference candle however, offers a HINT of strength going into Monday.  Overall though we can see that the SPX has it's work cut out for it as it was unable to break and hold the high of the reference candle at 2146... we had two attempts at it including Friday and they were both rejected.  We do have another OPEX on Friday, so indeed the next few days will be important.  So with that HINT, we move forward into Monday... we know there is little room here for any failure to rally, because the Longer term daily support at 2131.20 is directly underneath this 2132.98 close. 

 

spx101516d.PNG.ff69c642dcf34f6cf52db847b


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#12 Charvo

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Posted 17 October 2016 - 06:52 PM

I've still got EEM being the weak dog in this race.  I'm long the QQQ with EEM as a short.  I think this will play out much, much more strongly as the rate hike nears.  With that being said, I think the contango structure on the VIX futures is very dangerous for the market now.  I'm looking at the TLT as a gauge of potential killer black swans on the horizon (political or economic) because the smart money hides in the treasuries before the crap hits the fan.



#13 blustar

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Posted 17 October 2016 - 07:44 PM

Today I have made the case for an October 20 top and an October 26 low.  The former projection may be off a day. From Jan 20, 2016 to Oct 26, 2016 is exactly 40 weeks.  From Feb 11, 2016 to Nov 17 is exactly 40 weeks.  I have a proprietary TLC low due Nov 17. We could see a low around 1785 SPX or lower down to around 1640 as an extreme.

 

Carolan's October new moon - about 3 days equals Oct 27


Blessings,

 

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#14 larryh

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Posted 17 October 2016 - 09:05 PM

What calculations led you to a projected low around 1785 or 1640?

 

Thx



#15 da_cheif

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Posted 17 October 2016 - 09:29 PM

What calculations led you to a projected low around 1785 or 1640?

 

Thx

ya what???   :>)



#16 tradesurfer

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Posted 20 October 2016 - 12:55 AM

These two harmonic patterns, one from August 2015 time frame and one from current time frame seem to support your forecast.

 

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