Based on how quickly the market topped this morning and pulled back sharply I’d say we’ll pop just a little higher Tuesday morning and then down we go. I’m still looking for 20-30 points on the move down and then a rally the rest of the week as we are going into a 3-day holiday weekend.
Next week we “could” see the top (2010-2020), or it could be the 2nd week of September. However, we should top out in this coming month and start the move down into early October for the first wave so we can bounce up into the end of the Legatus meeting (Oct.8th-17th) for the wave 2 up.
That then sets up the market for the “crash” wave 3 down to start in late October and into most of November. Naturally I could be totally wrong on this call as many good traders are calling for 2200+ on the SPX by the end of the year. Maybe they are right and I’m wrong (or my source is wrong?). I don’t know?
For now I’ll just trade it from day to day and look for a short tomorrow “if” we pop higher slightly at the open on Tuesday. If we drop instead and put in that 20-30 points down move at some point tomorrow I’ll look to go long into the rest of this week and into next week. Either way is fine with me as while I’m bearish on the economy I’ll go long the market just like I’ll go short it.
I could see 5-10 more points up tomorrow and then I’d expect a 20-30 point pullback before resuming the rally back up. At this point it’s looking like we are on our way much high. So for now it’s just a “buy the dip” market and should continue through early September.
Some minor notes: The local hipster alternative NPR station has been playing alot of 80s music lately.
Sam Bradford#8, QB for the STL Rams who missed 9 games last season after tearing his ACL, was knocked out of today’s preseason game with a knee injury. Bradford, w/ the 11-8, 1987 birthday being a sleeper ritualee explaining why the Rams are so adamant about keeping him around despite his perpetually disappointing play….at least until the grand ritual unfolds. Meanwhile the other SAM on his team,Michael Sam, did get a sack against his fellow ritualee Johnny Manziel. Manziel #2, the operators new favorite NFL plaything, did go 10-15 for 85 yards in his performance tonight in STL. Michael Sam is noted for being the first openly gay player in the NFL and for kissing his male companion on draft night after being drafted by the Rams in the 7th round.
In nearby FerguSON, the events commemorated in Bradley’s ode to the ’29’92 ritual are repeating themselves 22years4months later thus indicating that the end times are upon us….or denouement. Notice the appropriate SON in the city’s name harkening back to ONS Jr. Market…..ie a 211 in progress at 983 Temple Ave……..This time it’s QwikTrip Market…..
I did notice that the sheriff’s name is SAM in High Plain’s Drifter.
The Kevin LOVE #42 trade to the LeBron CAVs officially just went through and the Clippers officially sold earlier in the week for $2billion paid with MSFT funny money so the Clippers/ Donald Sterling ritual is officially over.
Friday, 8-22 was Ray Bradbury’s birthday. He would have been 94. 808 days from his demise/ the grand reunion. Interesting that Obozo and Old YellER have August birthdays as well all in the 84 format.
Denouement might take place in the form of the South Sea Bubble popping because they treat the lesser grand ritual as an afterthought. I am seeing grand ritual specific codes in movies pre-dating the lesser grand ritual event and I don’t see how these codes pertain to the event 26 years ago. Just came across references in early 70s movies like High Plains Drifter and the Last Valley…numbers like 12 212 125 being referenced which don’t conform to 87.
Did some astro research to the South Sea Bubble event of 1720 (294 years ago) and noticed the grand conjunction of the Sun, Mercury, Venus, Mars,Pluto in Virgo in early September of that year. Concurrently, Jupiter and Uranus were forming a conjunction in Leo. This following a new moon. Mercury joined the conjunction a little later as it retrograded back to the other planets.
Not that the Fed is saying anything new today as it’s just the minutes from the last meeting but the market is still waiting to see if Janet Yellen will add anything else I guess. So when she speaks here around 2pm I’d think we’ll have a sharp move one way or the other. I wish I knew which way but I don’t?
We are very, very overbought now so I’d look to short a quick move higher over the 1991 high for a pullback later today and into tomorrow possibly. If she doesn’t say anything stupid (like we are thinking about raising rates soon) and the market just drops 10 points or so I’d be interested in going long.
But of course if it was something really bad then we should see the market top and a new down trend start. Most everyone is still looking for a 5th wave up to new all time highs and with the market being rigged in the bulls favor I’d say they could still get it.
Just seems odd that we haven’t hit new all time highs yet on the ES futures or the SPX. And 17,000 is within spitting distance now on the DOW, so it seems like it’s all guaranteed to happen right? That’s what worries me… everyone on the same bull bus. I remain in cash.
This chart by Daneric is pretty accurate I believe. I’m looking for about 10 points down today from red [3] to red [4] and then up later this week and into Monday to hit red [5] and complete black iii. Then about 20 points down for black iv, which I think will have started from 1994-1997 SPX… so that suggests a move back down to around 1974-1977 early next week.
Then we should have the final black v up to 2015-2020 into September 10th-15th I think. That should complete the rally from 2011 and allow the start of the 200-400 point drop expected into November. It suggests the first wave down be most of mid-late September with the wave 2 bounce up into the October Legatus meeting.
Since that’s October 8th-17th I’d guess will top out for that wave 2 bounce somewhere in that period or even Monday the 20th the next trading day after the meeting ends on Friday the 17th. At that point I think we’ll start the 3-4 week crash wave down.
I’m still looking for a pullback of 10-15 points but the higher it goes the more likely the pullback will be deeper… maybe 20-25 points? At this point it appears they want the double top before pulling back. Which seems odd to me as most of the time they don’t give people the chance to stay long all the way up to any double top and then go short.
As we all know they trick both the bulls and bears and either pierce through any double top (or bottom) and then reverse the other way. Or they fall short of any double top (or bottom) and reverse without letting people exit. It’s always a trick, but what is the trick they have planned now?
I’m not sure but I’m neither long or short right now. I don’t trust either one so I’ll just wait for a nice pullback to go long or a pierce of the double top to go short. If they do pierce the 1991 area we should either fall short of 2000 (maybe 1997?) or go through it to possibly 2005-2010.
hey Red. Upper bol’ on the weekly must surely be hit in the current multi-week up wave..currently @ 2020s.
Given another 2-3 weeks, should have fair chance of 2030/50 zone.
–
Carboni.. and a fair number of others now calling for ‘new bull market’, with sp’2100s by year end.
Are they all about to get caught out, whilst the surviving doomer bears capture some autumnal carnage?
Based on how quickly the market topped this morning and pulled back sharply I’d say we’ll pop just a little higher Tuesday morning and then down we go. I’m still looking for 20-30 points on the move down and then a rally the rest of the week as we are going into a 3-day holiday weekend.
Next week we “could” see the top (2010-2020), or it could be the 2nd week of September. However, we should top out in this coming month and start the move down into early October for the first wave so we can bounce up into the end of the Legatus meeting (Oct.8th-17th) for the wave 2 up.
That then sets up the market for the “crash” wave 3 down to start in late October and into most of November. Naturally I could be totally wrong on this call as many good traders are calling for 2200+ on the SPX by the end of the year. Maybe they are right and I’m wrong (or my source is wrong?). I don’t know?
For now I’ll just trade it from day to day and look for a short tomorrow “if” we pop higher slightly at the open on Tuesday. If we drop instead and put in that 20-30 points down move at some point tomorrow I’ll look to go long into the rest of this week and into next week. Either way is fine with me as while I’m bearish on the economy I’ll go long the market just like I’ll go short it.
I could see 5-10 more points up tomorrow and then I’d expect a 20-30 point pullback before resuming the rally back up. At this point it’s looking like we are on our way much high. So for now it’s just a “buy the dip” market and should continue through early September.
Some minor notes: The local hipster alternative NPR station has been playing alot of 80s music lately.
Sam Bradford#8, QB for the STL Rams who missed 9 games last season after tearing his ACL, was knocked out of today’s preseason game with a knee injury. Bradford, w/ the 11-8, 1987 birthday being a sleeper ritualee explaining why the Rams are so adamant about keeping him around despite his perpetually disappointing play….at least until the grand ritual unfolds. Meanwhile the other SAM on his team,Michael Sam, did get a sack against his fellow ritualee Johnny Manziel. Manziel #2, the operators new favorite NFL plaything, did go 10-15 for 85 yards in his performance tonight in STL. Michael Sam is noted for being the first openly gay player in the NFL and for kissing his male companion on draft night after being drafted by the Rams in the 7th round.
In nearby FerguSON, the events commemorated in Bradley’s ode to the ’29’92 ritual are repeating themselves 22years4months later thus indicating that the end times are upon us….or denouement. Notice the appropriate SON in the city’s name harkening back to ONS Jr. Market…..ie a 211 in progress at 983 Temple Ave……..This time it’s QwikTrip Market…..
I did notice that the sheriff’s name is SAM in High Plain’s Drifter.
The Kevin LOVE #42 trade to the LeBron CAVs officially just went through and the Clippers officially sold earlier in the week for $2billion paid with MSFT funny money so the Clippers/ Donald Sterling ritual is officially over.
Prechter does love the South Sea Bubble so there might be meaning/ GRAVitas to the South Sea Bubble theme.
Reviewing some Shining analysis again and coming through with some breakthroughs.
Friday, 8-22 was Ray Bradbury’s birthday. He would have been 94. 808 days from his demise/ the grand reunion. Interesting that Obozo and Old YellER have August birthdays as well all in the 84 format.
Denouement might take place in the form of the South Sea Bubble popping because they treat the lesser grand ritual as an afterthought. I am seeing grand ritual specific codes in movies pre-dating the lesser grand ritual event and I don’t see how these codes pertain to the event 26 years ago. Just came across references in early 70s movies like High Plains Drifter and the Last Valley…numbers like 12 212 125 being referenced which don’t conform to 87.
Did some astro research to the South Sea Bubble event of 1720 (294 years ago) and noticed the grand conjunction of the Sun, Mercury, Venus, Mars,Pluto in Virgo in early September of that year. Concurrently, Jupiter and Uranus were forming a conjunction in Leo. This following a new moon. Mercury joined the conjunction a little later as it retrograded back to the other planets.
Not that the Fed is saying anything new today as it’s just the minutes from the last meeting but the market is still waiting to see if Janet Yellen will add anything else I guess. So when she speaks here around 2pm I’d think we’ll have a sharp move one way or the other. I wish I knew which way but I don’t?
We are very, very overbought now so I’d look to short a quick move higher over the 1991 high for a pullback later today and into tomorrow possibly. If she doesn’t say anything stupid (like we are thinking about raising rates soon) and the market just drops 10 points or so I’d be interested in going long.
But of course if it was something really bad then we should see the market top and a new down trend start. Most everyone is still looking for a 5th wave up to new all time highs and with the market being rigged in the bulls favor I’d say they could still get it.
Just seems odd that we haven’t hit new all time highs yet on the ES futures or the SPX. And 17,000 is within spitting distance now on the DOW, so it seems like it’s all guaranteed to happen right? That’s what worries me… everyone on the same bull bus. I remain in cash.
This chart by Daneric is pretty accurate I believe. I’m looking for about 10 points down today from red [3] to red [4] and then up later this week and into Monday to hit red [5] and complete black iii. Then about 20 points down for black iv, which I think will have started from 1994-1997 SPX… so that suggests a move back down to around 1974-1977 early next week.
Then we should have the final black v up to 2015-2020 into September 10th-15th I think. That should complete the rally from 2011 and allow the start of the 200-400 point drop expected into November. It suggests the first wave down be most of mid-late September with the wave 2 bounce up into the October Legatus meeting.
Since that’s October 8th-17th I’d guess will top out for that wave 2 bounce somewhere in that period or even Monday the 20th the next trading day after the meeting ends on Friday the 17th. At that point I think we’ll start the 3-4 week crash wave down.
http://2.bp.blogspot.com/–3DTU2Jqo4I/U_OxAIkEDmI/AAAAAAAAY0s/boq7PXyTOhg/s1600/spx60.png
I’m still looking for a pullback of 10-15 points but the higher it goes the more likely the pullback will be deeper… maybe 20-25 points? At this point it appears they want the double top before pulling back. Which seems odd to me as most of the time they don’t give people the chance to stay long all the way up to any double top and then go short.
As we all know they trick both the bulls and bears and either pierce through any double top (or bottom) and then reverse the other way. Or they fall short of any double top (or bottom) and reverse without letting people exit. It’s always a trick, but what is the trick they have planned now?
I’m not sure but I’m neither long or short right now. I don’t trust either one so I’ll just wait for a nice pullback to go long or a pierce of the double top to go short. If they do pierce the 1991 area we should either fall short of 2000 (maybe 1997?) or go through it to possibly 2005-2010.