I didn't do a post yesterday as there wasn't anything to add, but we did finally get a pullback started, so assuming the current high holds (and I think it will) we should start a decline into next week. Ideally it unfolds in 5 waves so that it's my wave 1 inside a C wave down. The zone to look at is the 5500 area, down to as low as the 5400 zone. Somewhere in that area is where I would expect to see this first pullback end at. Then an ABC up into the first week of September for the wave 2 in the C down.
That "squeeze" could hit the falling white trendline, and if it does, it will look super bullish to everyone as the pullback will be the "right shoulder". I covered all of that on my update from Tuesday, August 21st 2024, and so far we are looking good for following that path. As for today I don't have much to add as we could drift a little lower in the first half of the day and then do the typical bounce into the close.
Meaning, I don't think we'll drop too much deeper today as most likely that will be saved for next week. For me there's nothing to do but wait for the August 30th-September 4th period to look for that last squeeze up, as that should be the ideal short.
Have a great weekend.
I still think this was a bear market rally ala late May 2011. It has gone longer than then. The nasty Mars-Jupiter in 1929 position conjunction square to Saturn square to quickly moving Venus is starting to come unraveled. Venus is still moving between its squares and oppositions of those planets.
Tomorrow is the much hyped Kobe 8-24 day and then we have a high value numerology day on Monday 8-26(8)-8 (888) which also has a 666 day relationship to my personal crash in 2006. (18 years 29days earlier)