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Thursday is S2 which was tepid’s fav STD trading day
because it has a high reliable count / options.H is am hod pm lod
L is am lod pm hod
Let’s see what monkey business this market can do !
Early first look it appears to be spill up to seal S1H wednesday
and then down into S2L pt3 thursdayI would rather watch atm.
Never give up, never surrender.
The European Central Bank (ECB) is watching out for signs of a credit crunch,
as banks are hit by the coronavirus pandemic, the board member
Isabel Schnabel said on Thursday.So you should Isabel 😉
Never give up, never surrender.
Dow futures are back up at 28500 where they were when
the euroland cash markets opened.Spx and Nas have not done so yet.
All futures have seen spikes.
Never give up, never surrender.
We are at mid point of the 28/9 to 19/10 astros mimic
of that seen in March covid19 panic.Today the news is all about wave2 and the risk of a
surge beyond wave1.Central banks are worried about a credit crunch and
that is no surprise as debt dwarfs 2008.Yet major stocks rally.
Never give up, never surrender.
When US cash opens at a ‘h’ so will euroland cash be at a ‘h’
and then we see where they want to go hand in hand.Bears will hope for a repeat of tuesday 😉
Never give up, never surrender.
Ftse Dax Asx all look S2L ‘normal’ with a pm hod.
Friday S3L and Monday S2H if no flip on saturday.
Only a surprise event can stop US stocks doing the same.
Never give up, never surrender.
We are at mid point of the 28/9 to 19/10 astros mimic of that seen in March covid19 panic. Today the news is all about wave2 and the risk of a surge beyond wave1. Central banks are worried about a credit crunch and that is no surprise as debt dwarfs 2008. Yet major stocks rally.
Merriman said that this period would be a ‘replica’ of the March 20-31 period where we saw the virus panic low followed by a relentless move higher. The low happened on March 22/23, near the beginning of that period.
On Sept 28 we got the ‘panic’ in overnight futures when SPX traded as low as 3196. Then the market recovered all of that loss and cash actually traded at a new high.
Now we are in relentless ‘up mode’ just like March 20-31.
Of course anything can happen and these markets can reverse, but I see ‘five ups’ everywhere and I think we are entering ‘wave 3 up’.
So the astros people will claim they were ‘correct’. And they probably were, just not the way we expected.
Merriman’s next ‘key date’ is Nov 12.
Of course anything can happen, but I think we are going to get a big ‘five up’ as the market realises Trump is going to sail through this election. Currently at the beginning of ‘wave 3’.
Nov 12 is one week after the election. Quite possible that week could be a ‘blow off top 5th wave’. Better to travel etc…
The astros are right re wave2 etc but wrong re human response
because ‘we’ have got bored by this old news.WWII a good example of how humans just keep living / going
so this little covid19 thing is a trifle really.However the debt from this covid19 will be around well
into 2021 and give the low stock prices in Gann’s work.Never give up, never surrender.
STD lean is S3L friday and S2H monday ( if no flip ) with
both ‘normal’ outcomes negative.Bears need not get too excited as ‘their’ days may not be
a good drop but just a breather for the bulls rally.Until proven otherwise hatman’s view is the one to follow.
Never give up, never surrender.
History shows that when rulers borrow money they often find a way
of not paying it back … see Jews and Knights Templar etc etcIn modern times inflation has been used and will be used again
to reduce the value of many countries debt.Beware any of you that have large bank deposits !
Never give up, never surrender.
SPX: for the coming week I have us in wave iii of 3 up with a conventional 1.618 target of 3,529 for iii and around 3613 for 3.
Third waves are often relentless and that’s sure what we got last week.
If we are indeed in wave iii of 3 the 3,529 target will likely be hit quickly as last weeks upmove continues.
At some point there will be a iv before the wave 3 target at 3,613.
On the SPX daily chart I see an inverted H&S with the neckline at Khalsas 3430. I don’t find these patterns particularly reliable but in this instance it’s interesting that the target of 3,640 or so is in the area of my projections for waves 3 and 5.
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