53 replies to this topic

[blustar]

My upside target this morning was SPX 6759/60 and we hit SPX 6763/64, which has an interesting Wave Price Equality summation to it that I will get to later. 

 

My downside target for Monday Oct 13 is SPX is 6423/24! We are breaking down out of a long double rising wedge formation, that is a rising wedge within a rising wedge. This represents the increasing momentum failures as we have blasted up to unprecedented value levels. There is no doubt the P/C ratios and sentiment are at extremes right now, as well.

 

I had a TLC buy low for Tuesday and the early Wednesday astros sported a bullish and harmonious Venus in Virgo/Jupiter in Cancer sextile (Jupiter is exalted in Cancer). The FED minutes were read yesterday, but most of the move had already occurred. Today Powell is speaking at the Community Bank conference this morning.

 

The next TLC low is due Monday Oct 13th, the expected mini crash low (5.3% downside is expected from today's top, we have gone over 4 months without more than a 3% pullback, so this is long overdue). 

 

Oct 11, Venus in mutable Virgo opposes Saturn in mutable Pisces. One should look for hard a low nearby especially since they are in mutable signs. On Monday, the first quarter moon is in Cancer (the moon is ruled by Cancer), Venus enters Libra (also often near a low) and Pluto in Aquarius goes stationary/direct (often near turns in the market) and Venus in Virgo also semi-squares Mars in Scorpio early Monday. Later in the evening Monday, Venus in 0 deg. Libra opposes Neptune in 0 deg. Aries.

 

These are intense signatures in such a short space! Early the next day Venus in Libra forms a harmonious sextile to Uranus in Gemini. Expect the unexpected or a surprise Tuesday. In fact, the way the astros turn so positive as we head into New Moon of Oct 21, and the formation of an expected z of Z wave mini crash into Monday (XYZ) the next expectation is for a move to new highs on the SPX by early Oct 23 with an expected move to 6811/12. This should be THE blow-off high, as I expect a 35%+ drop from Oct 23 to Nov 24 that should somewhat mirror the COVID crash of FEB/Mar 2020!

 

The Banking Index is already breaking down as I write this and has been for over a week. Hmmm... I wonder what they know?

[4caster]

The SPX P/E is only 30 and although the VIX is putting in a huge saucer bottom not to worry. The AI 

industry is doing just fine and as a poster on here pointed out an index can't go down. Investors/traders

will never fade the mkt again.

[12SPX]

The SPX P/E is only 30 and although the VIX is putting in a huge saucer bottom not to worry. The AI 

industry is doing just fine and as a poster on here pointed out an index can't go down. Investors/traders

will never fade the mkt again.

Your making my day gotta say lol!! 

[andr99]

if the stock market drops 5% by Monday, I promise I will become a communist 

[slupert]

if the stock market drops 5% by Monday, I promise I will become a communist 

Actually, he might be right about a swift down move coming, but more like 2.5% and I'd give it another day Tues Pm, is more possible than in previous weeks. (JmHO)

[blustar]

if the stock market drops 5% by Monday, I promise I will become a communist 

and a Priest?

[blustar]

The SPX P/E is only 30 and although the VIX is putting in a huge saucer bottom not to worry. The AI 

industry is doing just fine and as a poster on here pointed out an index can't go down. Investors/traders

will never fade the mkt again.

facetious?

[andr99]

 

if the stock market drops 5% by Monday, I promise I will become a communist 

and a Priest?

 

 

both

[andr99]

blu, you are too pessimist. Relax, time will come for dark clouds, but it's still early. Not there, yet. 

[4caster]

Facetious? Of course, but I can't go along with a 5% drop by Monday. This morning I bought

some Puts, but who knows I might buy Calls tomorrow depending on what the mkt does.