Mars puts in an exact square to Uranus tomorrow while the moon moves into the location of the grand reunion last year. Some oldtimers even say this area is the 7th house.
I see a move above the FP of 170.46 SPY of .50 cents to 1.00 before stopping and rolling over. Don’t expect a big move down from it as this could be a wave 3 up of some type. That means a wave 4 down of 20 points or so seems likely and then a wave 5 up into next week should follow.
This assumes that this is a wave 3 up and not a wave 5… which I’m unsure of at this point. There is a pivot point at 1717 SPX but I’m not counting on that to be hit. It really is more about how many bears have stops above 1700 or so. The more stops the higher it goes, but 1705-1710 seems likely for the first level I think.
I get the feeling that we are going to chop here for the next 3 and a half hours until Bernanke speaks. But make no mistake about it they will hit the FP on the SPY of 170.46 as they always support the bulls. In fact I’d expect them to go past it a little like they usually do…. maybe 171.00?
Order this hats and have them ready around 2015-2016
http://reddragonleo.com/wp-content/uploads/2010/08/Dow4000.jpg
should I order 1700 caps now or hold on
The upside target was hit and all longs are done now. Best to be in cash now and wait for another opportunity.
We are here
Almost there to the FP on the SPY of 170.46
S&P 500 Analysis after closing bell: http://niftychartsandpatterns.blogspot.in/2013/08/s-500-analysis-after-closing-bell.html
Mars puts in an exact square to Uranus tomorrow while the moon moves into the location of the grand reunion last year. Some oldtimers even say this area is the 7th house.
I see a move above the FP of 170.46 SPY of .50 cents to 1.00 before stopping and rolling over. Don’t expect a big move down from it as this could be a wave 3 up of some type. That means a wave 4 down of 20 points or so seems likely and then a wave 5 up into next week should follow.
This assumes that this is a wave 3 up and not a wave 5… which I’m unsure of at this point. There is a pivot point at 1717 SPX but I’m not counting on that to be hit. It really is more about how many bears have stops above 1700 or so. The more stops the higher it goes, but 1705-1710 seems likely for the first level I think.
what u see now
I get the feeling that we are going to chop here for the next 3 and a half hours until Bernanke speaks. But make no mistake about it they will hit the FP on the SPY of 170.46 as they always support the bulls. In fact I’d expect them to go past it a little like they usually do…. maybe 171.00?