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My indicators say the Dow is sailing into strong winds.
But on it sails
Never give up, never surrender.
Checking my target numbers, I still have SPX 3,440. For the DOW I had 28,200. I can see how a slight upwards revision to around 28,280 would be reasonable (at a stretch), but nothing above that.
NYSE: for the NYA my last chart was *this one* which suggested a target somewhere around 13,070. It’s now approaching 13,000 so it only needs 70 points or so to hit the target.
Will be interesting to see if SPX 3,440 or so and NYA 13,070 or so get hit at the same time.
Hmmm… if today is STD 2, I have to assume the trend will continue until STD 4.
The Dow is trading well above my 28,000/28,280 target so unfortunately that count has been blown.
I’ve looked again at SPX and have a new count shown below (as I’m assuming the spx 3,440 target will also get exceeded.
SPX: all along I’ve been confused by the move upwards from circa 2,800 to 3,200 because it doesn’t count comfortably as a ‘five’. I’ve assumed it’s a three, hence my rising wedge idea.
However no system is perfect, and I’ve realised today that that move was almost exactly 0.618 of (a) and gave a higher MACD reading. I’m now assuming that the entire move upwards from 2,200 to circa 3,200 was ‘wave A’ made up of abc, with that 3,200 move somehow being a five wave ‘c’.
We then got ‘wave B’ sideways which took the MACD lower.
Now I can count a clean five wave upwards move developing from the B wave low at 3,000 or so. It’s a clean count, currently approaching the top of wave (iii).
I’ve shown a roadmap on the chart, where wave (iii) is at 3,466 followed by wave (iv) down to 3,363.
The eventual target is 3,595.
Dow ‘two little feet’ 30th & 31st July mark the start of the final leg up.
Best seen on a 60 min chart.
We could be in 3of5of5 if the feet are 1 & 2
All a bit on the back of a fag packet and I don’t smoke 😉
Never give up, never surrender.
The problem with this is the final 5 is too big re the 1
My main problem is my indicators which say this rally can’t last.
Never give up, never surrender.
SPX: for SPX in the short term, I’ve mapped out what *might* be a roadmap from now until Thursday. I’m assuming the STD trend will continue into Thursday, which, by coincidence or not, is when Powell makes his Jackson Hole speech.
If this is a five to 3,466 (or so), then we’ve got wave 1 at about 38.2. Wave 3 at 1.618 is at 3,436, just a touch higher than yesterdays close.
Wave 2 was short and sharp, so the 4th wave is likely to be long and flat (perhaps a triangle) before getting the final pop to the peak on Thursday.
This pattern indicates a pop and drop today. If that happens it will suggest the pattern is on track. If it does something else (particularly if it climbs again) then clearly something else is happening.
Powell is due to speak 09.10 am Thursday, and he might say something to create the final pop to 3,466. However the pattern suggests that pop will be sold off (better to travel etc).
Good Morning Hatman Cimac et al
Phew nd Arghhh at same time
Been having a nightmare trying to get on KPAD as blasted Keeps giving me LOG in and when try feel Recaptcha it gives error and can’t get ion here lol
Anyways just manged get on hope issue is resolved
S2H lean bias Good luck to us all
rgds
Zarif
Small droplets of rain turn into Rivers, Streams and Mighty Oceans
“Due
to its retrograde motion, Mars will make its first quarter cycle (waxing square) to these same three planets
three times, and the first is happening now, August 4-24. It is interesting because the start of the cycle
was an important cycle low in world stock markets, and the first passage of this first quarter square is
coinciding with the market’s highest price since then. Given that the major correlation between geocosmic
aspects and financial markets has to do with reversals of trends, one wonders if the highs that have been
unfolding between August 4, and now will represent a significant crest from which equity markets will
reverse to the downside? Or will that happen September 29-October 19 when Mars is retrograde and
makes this same waxing square aspect to the Capricorn stellium? Or both?”Chart suggests both…
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