Why I Believe a Sharp Pull Back is Due on Tuesday
Started by
blustar
, Sep 04 2023 07:39 PM
SPX ewave cycles
12 replies to this topic
#1
blustar
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blustar
#2
blustar
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blustar
Posted 05 September 2023 - 08:35 AM
The coming low could be early Wednesday (Sun conj. Mer Rx) on a strong gap down. The TLC says Tuesday but sometimes carries over. IF a Wednesday low comes then the expected 1st top should be shoved out one more day into Monday next week.
We should sell-off nicely today in any case...
#3
blustar
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blustar
Posted 05 September 2023 - 02:24 PM
Large move down expected Wednesday! This could easily filter into early Thursday to as low as 4388/89 SPX...
#4
cycletimer
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Posted 05 September 2023 - 09:01 PM
The coming low could be early Wednesday (Sun conj. Mer Rx) on a strong gap down. The TLC says Tuesday but sometimes carries over. IF a Wednesday low comes then the expected 1st top should be shoved out one more day into Monday next week.
We should sell-off nicely today in any case...
Good short term call. I remain 50% Long equities and today I loaded the remaining 50% I was holding in cash in $ZROZ.
#5
blustar
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blustar
Posted 06 September 2023 - 08:29 AM
All eyes are on Europe and the ISM Services PMI here in the States...
A large drop is likely due today which should carry over into early Thursday. Possible downside is around 4389/90 SPX...
#6
blustar
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blustar
Posted 07 September 2023 - 08:13 AM
The economic info this morning was not bad, but Alphabet, Tesla and especially Apple are down hard.
FED Speaker Harker is due to speak 30 minutes after the open, just like 8 TD's when Powell spoke.
Looking for around 4388/89 SPX on the down side within the first 3 hours of trading, then a strong rally into Tuesday (moon in Leo) next week above 4550.
There is the Sun trine Jupiter on the open Friday so expect a strong open followed by pull back Friday.
Two more trines coming with the Sun in the next two weeks: Uranus Rx late Friday next week (Venus sq. Jupiter Rx) calling a top early Monday the 18th; Pluto Rx early Thursday the 21st.
A 4 TD cycle low is due the day before the new moon on the 13th and an 8 TD low due on Tuesday the 19 along with the Sun conj. Neptune Rx, so the FED day, Sept 20th, should be an up day.
Today is a buy the dip day, IMO.
#7
blustar
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blustar
Posted 07 September 2023 - 09:26 AM
Covered my short positions... I don't like the way she has stabilized here...position neutral...
#8
blustar
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blustar
Posted 07 September 2023 - 12:20 PM
There is a distinct possibility that we have not seen the bottom yet of this down wave. The last formation like this back in May went 14 TD's into the low and it was three weeks ago tomorrow that the low came in. The gap at 4405 needs to covered in my opinion.
The internal wave current structure looks bearish to me for one more move down. Next week the new moon on Thursday is in Virgo and early Wednesday starts to leave Leo into Virgo where most lows tend to go after a Leo moon top. We'll see. Buy the dip is my motto, but I'm not convinced we have see that set up just yet.
Tonight before the market opens, the SUN trines Jupiter Rx in Taurus. These can be tops or on down moves an exhaustion trine.
#10
blustar
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blustar
Posted 08 September 2023 - 08:24 AM
We may have an exhaustion trine and a move down into a 9/14 TD low today. Ideally, a move to or around 4404/05 SPX would be perfect. IF this occurs as I think it might, it is a buy the dips move for a huge rally into Wednesday next week to above 4560. A 4 TD low would then be expected on the new moon in Virgo (9/14) before the next phase rally into the 19th and eventually into the 20th/21st of September = the Sun trine Pluto Rx. Dr Copper is down over 1% which may be a clue regarding some early softness today.
