5 replies to this topic

[blustar]

Thursday this week will either be a low or a high. Same with Wednesday next week (FED day). The market could turn back up into the rising wedge after making a false break. Yesterday was a potential 8/16 TD low and is quite oversold. There is a potential TLC low due next Friday and again on the 24th. The CPI and PPI data are key here.

[blustar]

A 'b' wave of Y pullback is expected today as Venus opposes Mars. The PPI m/m was a little hot at .4% & jobless numbers rose a bit. There is support around 6053/57, but a break of that could send the SPX down to 6044/45. A gap up to 6106/07 SPX is expected by Friday on a 5 TD high (4+1) as Mercury RX sextiles Venus on the open. Mercury trines Mars this weekend as Mercury > Sta/Dx on the 15th.

 

The set up is there for a hard plunge into Tuesday the 17th and a lower retest of the low on DEC 23 (16+9 TD irregular low), where a strong TLC low exists. Tuesday is a 16+5 which is a normal range for a 16 TD low. A high is expected on Thursday the 19th as Jupiter Rx trines Venus.

[blustar]

The SPX is up 20. A move up to near resistance near 6088 or lower would suggest we move down hard into Tuesday with some possibility of a Wednesday low. Another lower low (NASDAQ possibly excluded) either Dec 23 or 24 is likely, IMHO.

[blustar]

We are snapping back to the uptrend line broken. We should retest the lows today at the EOD and then gap up and then fall Wednesday into the lower 6000 region SPX. We should then rally into OPEX to new highs. A hard drop into the 24th should be on the slate.

[blustar]

The NYA, DJT and DJI all gaped higher, but the techs sold off, the NDX to a new low this morning. My AI cycle software gave Tuesday +/- 1 TD for a buyable low, then Thursday +/- 1 TD then Dec 23 +/- 1 TD. I have a nice TLC low due Thursday. It looks like the 23rd should be the 24th to me for the final low after OPEX.

 

The E-Wave structure looks to be tracing out a nice w-x-y "b" of [c] wave, which mean at some point we should see a "c" of [c] wave coming. That could be tomorrow.

[blustar]

My AI software did something odd, it cancelled the Jan 3 top call. The Low should now occur around Jan 6 +/-1 and a Top somewhere around the third week in January. If today was the low, we might only expect the top to occur on Dec 31/Jan 2.