3 replies to this topic

[blustar]

Expected downside by early Tuesday on a gap down could be as low as SPX 4328...

 

It looks like we have a W-X-Y inverted, irregular flat [B] Wave in motion since August 18. I believe we are in Wave X and 'c'  [z] of that wave should take out A (8/18) on the downside.

 

The current expectations is that we do not make a higher high above the July high. So instead of X Y then Z, it would likely count A B C {A}.

 

Transports are making new lows right now and that is not a good sign for the market right now!

 

[blustar]

See my latest startling prediction complete with a chart of the S&P 500.

[blustar]

Off the top of Sept 1, the [a] wave fell a-b-c, then [b] w-x-y, now [c] = x-y-z. This creates a Double 3 Count (a-b-c x a-b-c). We are up about 26 pts on the SPX and Copper is +2.17%. Bonds are down.

 

This is a bear rally today and is a set up for a big down move off the top today into Tuesday to challenge the August 18 low of 4335. The NYSE, Dow Industrials/Transports are the weakest components here and should take out the August 18 low. I don't believe the NDX can challenge that low in any meaningful way and that may prove true for the hybrid SPX to some extent, so it remains to be seen how this goes.

[blustar]

It looks like a 17 TD low early Wednesday. I didn't expect a complex "b" wave. "c" is still coming. 4370/4400? or lower?