The 16 day cycle turned the market back and the 8 day low is due +/- Friday this week. The larger 13 week cycle top is due Nov 10, but can vary by up to 2 weeks. My indicators suggest at least one more down day here and the upper 800's to 900 SPX should hold any selling. If this is an a-b-c type rally into the 13 week cycle top, then we should expect one last screaming rally back up to the 1040/50 level by next week. The longer term cycles suggest one more new low in the SPX and QQQQ in December, probably around or before Xmas.
The GDX top is due around Dec 19/21, so selling mining shares and buying the SPX or QQQQ would be the thing to do, IMO, at that time into an expected mining share low, stock market top around mid/late Feb 2009.
I expect new highs in the indices by March/April 2010 near SPX 1600 in wave -c- of WAVE Y of WAVE IV. 2010/2011 should see a huge bear to SPX 443.
Mining shares will not look back to these lows again set Oct 24/27, especially GDX and the majors. I'm looking for a 67/70% retracement for the mining shares from Dec to Feb 2009.
blu
16 Day Cycle Top Due Early Nov 5 Turns Market Back
Started by
blustar
, Nov 05 2008 03:41 PM
4 replies to this topic
#1
blustar
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blustar
#2
humble1
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Posted 05 November 2008 - 03:44 PM
back to the 12/9/1994 lows? very possible. hope we get that rally first. any particular dates in 2010 or 2011 that stand out?
tia!
Edited by humble1, 05 November 2008 - 03:45 PM.
#3
cycletimer
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Posted 05 November 2008 - 08:29 PM
Blu,
There is a cycle LOW due Nov 19th....does your work coincide with this at all? I agree with your cycle low in Gold at Xmas time. That will be a great time to buy.
Kirk
#4
blustar
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blustar
Posted 06 November 2008 - 09:27 AM
The seasonals and cycles point to a top around Dec 19/21 for the mining shares. Nov 17/19 should be a mining share low.Blu,
There is a cycle LOW due Nov 19th....does your work coincide with this at all? I agree with your cycle low in Gold at Xmas time. That will be a great time to buy.
Kirk
#5
blustar
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blustar
Posted 06 November 2008 - 09:30 AM
back to the 12/9/1994 lows? very possible. hope we get that rally first. any particular dates in 2010 or 2011 that stand out?
tia!
Yes. Cycle top late March/Early April 2010 for the stock market based on Benner's cycle and E-wave symmetry. Cycle lows would be July/Oct 2010 and then March/May 2011.
