According to my risk summation system, the window next week with the highest risk of seeing a turn in or acceleration of the current trend in the DJIA stretches from Monday August 19 thru the morning of Tuesday August 20th. There's also a bit of risk noise Thursday and Friday the 22nd and 23rd, not sufficient to merit a risk window label, but loud enough to bear watching.
Last week the previous Friday afternoon thru Monday risk window caught the week's low before the blast off. The complex end of the week risk window which I posited in last week's post would see wild swings instead just saw a scorching rally acceleration up. Risk windows OK, my guesstimate as to what they would entail not worth a flip.
During the week I posted the plot of a pretty reliable 3rd/C wave detecting cycle which was pointing at a window stretching from August 13th thru August 15th. Bullseye again. The next window for this cycle is centered on the 1st of November. Expect some excitement around that new moon.
My near term EWave count which I published a couple of weeks ago is shown below. This count is obviously just "bearly" still viable. Surprise, surprise. I'll turn off the life support for this turkey if a rally this coming week breaks through the horizontal red line.
Regards,
Douglas
