The market has been on a ST consolidation at highs, and dips are likely to be bought as SPX is likely to move toward its next target at 5800 before the Fed meeting on Nov 6-7 ........................

Am in NY, still not back to full-timing trading. A messy market ahead but nothing as bad as this maddening NY traffic gridlock when the useless UN brings in hundreds or thousands of "world leaders& their bloated entourage" to useless UN summit etc.

My risk summation system projects that the windows with the highest risk of seeing a turn in or acceleration of the current trend in the DJIA are about noon on Monday the 23rd though about noon Wednesday the 25th and Friday the 27th.   Pretty useless I realize since the two windows cover almost the whole danged week, but sometimes the turns are scattered all over the place.  The signal is strongest on Tuesday the 24th and Friday the 27th, but there's a lot of noise around the 24th signal.

 

Last week the Wednesday -  Thursday morning risk window caught what might be the low of a wave "4" in the 15 minute chart.  As always the jury is still out on the Friday the 20th risk window which might be a top depending, of course, on Monday's action, and my luck relative to the "B" wave count noted below.

 

A break down out of the rising wedge above is pretty much the last hope for my "B" wave count.  If the DJIA breaks out to the upside, my count is toast.  To my credit, I've kept that stinking Frankenstein patchwork creature of a count alive much longer than expected with quite a bit of magical counting and rule breaking manipulation.  At least maybe it will be a mort subite.

 

Regards,

Douglas  

On August 19th the 10 week gave a SPX projection to 6000 + or - 25. I was not posting so this wasn't posted.

The 2.5 & 5 week gave downside projections in early September that were given and met almost instantaneously.

The 5 week slightly overshot to the downside. At that point it was possible that the 10 week projection to 6000

would be canceled but it never was. Since then the 2.5 week gave an upside projection to 5670 which 

was met and then the 5 week just gave an SPX projection to 5820. So to summarize there still is a 5 week 

projection to 5820 and a 10 week to 6000. My prediction is if we see 6000 it will be by October 3rd. This will be 

my last post so enjoy.

As usual the Q&A session didn't go well.so what? Look at what this market has been through.Shouldnt take it long to get back on track. Maybe even tomorrow.jmho