Possible 100 Point SPX Drop Early Thursday on CPI, Just Like the October 13, 2022 Low!
This equals two 5 month cycles, October 13 to March 13 and March 13 to August 10. A 2-month low would then be due on October 13. This then extends the rally (a-b-c) into Tuesday next week to new highs on the Dow 30 and failing on the SPX and QQQ. Next week, the Sun sq.'s Uranus on the 15th along with two short term sextiles:
Aug 15, 2023 1:09 AM Sun 22 Leo 09 semi-sextile Mars 22 Virgo 09
Aug 15, 2023 1:04 PM Mercury 19 Virgo 05 semi-sextile Venus 19 Leo 05
Aug 15, 2023 10:34 PM Sun 23 Leo 00 square Uranus 23 Taurus 00= Upward resistance, just like Sun sq. Jupiter on the 7th.
Aug 16, 2023 9:53 AM Mars 23 Virgo 01 trine Uranus 23 Taurus 01 = gap down. See August 1, Mars sq. Jupiter.
Venus Rx conj. the Sun August 13 is +/- 2 TD's for a turn.
This would place the [A] Wave Low on the Mercury Rx aspect 8/23, [B] on August 27 (8/28 Uranus Rx) and © on Sept 8. The 5 week retest would then be October 13!
Tonight sees Mercury in Virgo trine Jupiter in Taurus, which is a message for the stock market tomorrow morning. In a down trend, trines can be bearish. My guess is the CPI will be hotter than expected and we get a panic sell-off buy spike like Oct 13, 2022. Already, I am seeing many POS D's emerging just like back then. Difference here is it will be an a-b-c 3 TD spike and caput.
The market is making something I have not seen in years and that is an IMP or Irregular Megaphone Pattern! It is a part of an irregular topping pattern that is usually seen in bull markets, but here the irregular top makes the final high.
I have maintained for sometime that we have NOT seen the top just yet, and stay by that conviction!
The Dow 30 could easily make a new high next week. The XMI has already made a new high. The SPX could reach 4700.
Tomorrow has support between 4385/89.