According to my risk summation system, the days next week with the highest risk of a turn in or acceleration of the current trend are Tuesday the 22nd and Thursday the 24th of September.
Last week the system disappointingly missed the Wednesday top, but may have tagged a low on Friday if the market starts a move up on Monday the 21st.
It apparently wasn't the FED that topped the market Wednesday, but the continued gridlock on The Hill concerning the next tranche of the "free" money handout. The FED Head has another baloney testimony on Tuesday and Wednesday of this coming week. This time the risk window coincides with the start of his babble fest. The real risk this week would appear to me to be the potential for massive protests in D.C. concerning RBG's replacement on the Court. If Mitch goes ahead with a vote before the election, expect all hades to break out making the recent protests look like a Sunday walk in the park.
My general trading system sees an elevated risk of an important top in this general time frame. Ideally the DJIA will make one more attempt to rally to a local high starting in one of the risk windows this week or next and fail, but it is also possible that the 2nd of September was it. The risk hole the system sees immediately ahead is thousands of DOW points deep.
Regards,
Douglas