13 replies to this topic

[blustar]

The markets are waiting for the Jolts data at 10:00 EDT...

 

The SPX made an irregular (bearish) w-x-y 'y' wave top yesterday, unconfirmed by the NYSE, DJI and NDX. Bottom line: I expect the lower SPX 4400 area... 'z' of "a" of © of [x] of [Y]... to be tested within the first 2-3 hours Tuesday and then an attempted "b" wave rally toward day's end. Tomorrow should see a bigger gap down and the lower SPX 4300 area should be tested by early Thursday...

 

This expected action is in line with the 20 TD cycle and an expected major POS D development that should launch the stock market higher above SPX 4607 by Sept 20/21.

 

 

Brad Gudgeon

Editor

BluStar Market Insights

 

[blustar]

The SPX made an irregular upon an irregular in an [x] wave and that is 'y' of "y". "y" was an ab-c- x a-b-c or double three and 'y was a [wxy] bearish inverted flat. Target by early Thursday is SPX ~4317...

 

As I have said before, these rarely end well, in fact they always end badly!

 

The whole "x-y-z" of [x] make, once complete, is very bullish for [y] of [Y] due on the 8th of Sept!

[blustar]

Link to Chart Explaining Why the Stock Market Must Pull Back Strongly into Thursday

Edited by blustar, 29 August 2023 - 03:08 PM.

[cycletimer]

Blu, I’m still Long. I’ve pared back and peeled off Short term profits but it’s been a nice week. I trade the cycle turns based on Fibonacci time sequence, I don’t know crap about Astro’s nor e-wave.

[GDA]

Rule #1: The market "must" not do anything. 

[blustar]

SPX +1, Dr C Flat-0.1%, Silver +0.65%, Bonds Up, $ Down 0.40%, VIX -0.76%...

 

The next cycle low (wave "z" of [x]) is due no later than late Thursday or early Friday into the lower 4300's SPX. We are at a 4/24 TD top.

[blustar]

Rule #1: The market "must" not do anything. 

According to my astro-cycle-wave theory, yes, it must pull back first before heading higher...

[blustar]

The SPX and QQQ have made a double irregular 'y' wave top, so we expect a 'z' wave of A on the down side, likely into early tomorrow then a B wave bounce. According to my hourly TLC, the C wave low on Friday should occur about mid session and could be a huge down wave. Tomorrow could drop to 4401 SPX before a bounce,  a 120 pt drop.

[blustar]

The QQQ has already gone negative, The Dow is up, the SPX is barely hanging on, the $ is up and Dr C is down along with Silver.

There should be an A Wave low within the third hourly bar this morning near 4404/05 SPX. Beware Chicago PMI!

 

The market is predicting a low on Sept 5 (49 TD's or a 10 week low from the late June low) near 4348/50 SPX, lower lows on the DJI and Russell than Aug 18. Mer Rx hits its midpoint this weekend along with Venus Direct and Jupiter Rx.

[blustar]

Now only the daily osc's are confirming top. The 4 hour and below are not! Another engulfing cloud today? ~4400 SPX by early Tuesday is expected...Charlie had today as being a top...Next top due Friday next week above 4560...