5 replies to this topic

[blustar]

My read is we open down about 4 or 5 points in the morning then move up to test the 2520/21 area on the SPX, then have a meaningful key reversal. ABC down to Oct 13 following the 7 week cycle at 37 TD's.  Best guess for down side total is about 2447. Then back to the upside.

[q4wer]

we simply open flat and go down to the toilet quickly.  but not very deep.

[da_cheif]

u guys .

[blustar]

Today appears to be an important ST top for the SPX, NOT an IT top.  Dec 26 saw Jupiter opp. Uranus and the next day (12/27) was a top.  It then fell the equivalent of 44 points the next three TD's.  That would equal an Oct 4 low and 32-1 TD's from the last low, which was a 32 TD low .  It looks like a Y wave top here or double top from the top 7 TD's (8-1) ago near 2508/09.  Oct 4 is a 24 CD turn.  I'm guessing that we see a Z wave move down to about 2468/69 IF 2512/13 holds.
 

The daily Bollinger Bands are opening on the top end, not the stuff made of a 2.5% reversal here, just enough to pause and refresh for the next move up.

 

I'm surprised that GDX has not moved up today, given the cycles and positively divergent indicators. perhaps next week's drop in the stock market will do the trick.  We have Mars trine Pluto over the weekend (warlike), which can lend itself to a nice drop in the stock market on Monday.  Oct 3 sees Venus trine Pluto late in the day, which means the 'b' wave on Tuesday lets go for 'c' into Wednesday.

 

Today has Venus opposite Neptune.  Yesterday saw Pluto go Sta./Direct with Jupiter opposing Uranus. This is the stuff made of tops or turns.  Also, today has a Sol/Sat turn.  They seems to alternate two for lows and two for tops.  This should be the second top, the one on Oct 16 should be a low (8 TD).

[blustar]

I think we just hit the top at SPX 2518. Let's see how it unfolds from here.  I'm in the Oct 4 SPY 251.00 puts.

[q4wer]

bulls still attack,  bears run out of bullet.