According to my risk summation system, the windows in the next week or so with the highest risk of a turn in or acceleration of the current trend are Monday & Tuesday August 30th & 31st at the front of the week and Friday September 3rd & Tuesday September 7th at the end of the week and into early the week after next.
Last week's Monday the 23rd risk window tagged an acceleration day with an opening gap up and a sharp rally higher. The Wednesday risk window tagged the high for the week and a turn down. Friday's risk window tagged a sharp turn up after the FED Head, faced with high inflation, decided to just let 'er rip.
Despite the week closing out with the S&P in record territory and a FED pumping with all cylinders, the CNN fear/greed gauge (money.cnn.com/data/fear-and-greed/) is only just poking its head above 50%. Given the sky high S&P and funny money galore, you'd think it would be markedly higher. Other sentiment gauges that I track including TSP and AAII are also rather remarkably bearish. Clearly the wall of worry is firmly intact.
The 72 week cycle that I've noted here previously is indicating a turn should occur this coming week. This cycle has recently fallen on hard times, calling for turns that were, at best, rather tepid. Given its recent lackluster performance, I don't hold out much hope for a nail biting turn this time either.