How the debt debacle works out

Now I may have it wrong but I suspect a high is imminent and a panic into around Aug 18 is likely. That date is a typical 155 cal day low to low in a panic cycle. A short term political arrangement is likely to see a brief rally and then a sell off as all recognise that NO lasting solution gas been achieved. A credit downgrade is ;okely. No agreement by Aug 2 just sees a market plunge until one is done at the same time frame. The odds of a comprehensive agreement that carries things past the next election seems remote at this time. But this is what is needed by the markets and the only thing that will satisfy it IMO. I hope I'm wrong and indicators have not yet confirmed my fears. Perhaps the danger lies elswhere and Chinese markets are dangerous at the moment. Perhaps that is linked to "default" notions. Don't know and market action rather than guessing reasons is more important. In summary, this week was expected to be a churn and then down into Aug 18. It won't be the first time I was wrong if it doesn't work out that way. Hope I am.

By the way, this coming weekend is 90 cal days from high and new moon and all that stuff.

That stuff includes a Bradely turn for Jul 26-30. From DeVencintis 2011 Potential Reversal Dates: 1/15, 1/29, 2/16, 3/10, 3/18, 4/6, 5/21, 5/31, 6/13, 6/24, 7/16, 8/1, 8/19. We publish dates up to 2 months in advance.

DeVincentis dates in advance.

So watch month end and around Aug 18 IMO.