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Near lows and highs, TOD’s become very difficult to predict and play.
Friday was just silly for TOD’s and today is similar.
That is another sign that we are topping.
The main issue is there are many more buyers than sellers. That needs to change. It usually changes on a whim though.
Let’s see.
Plan your trade, trade your plan!
“It is not only Venus that is turning retrograde this week (May 13). Saturn and Jupiter also turn retrograde on May 10 and 14, respectively. Three planets turning retrograde in the same week is a rare cosmic phenomenon and just adds to the probability that something major may be announced that could jolt financial markets into a sudden reversal.
We are focused mostly on the history of Venus turning retrograde, because this 19-month planetary cycle has played out an important story line several times recently. It occurred on October 10, 2002, which was the exact date of the end of the stock market decline following the burst of the dot com bubble in 2000. It was there again on March 6, 2009, which was the exact date of the stock market bottom (72-year cycle low) during the Great Recession of 2007-2009. The last time Venus turned retrograde was on October 5, 2018, just two days after an all-time high (4-year cycle crest) that was followed by the dramatic decline to the 4-year cycle low on December 26, 2018, and the largest decline since the Great Recession, until this year. Venus retrograde may not be that dramatic this time, for no long-term cycle low or high is likely now in stock markets. But in 80% of cases, a primary or half-primary cycle (or greater) tends to happen within 12 trading days of Venus retrograde, and most of the time, in 7 days or less. And stocks are in the time band for either a primary or half-primary cycle this time too.”
Small short NAS at 9334 … stop 9470 … limit 8833
That is my other half of the short trade.
I will not add more.
Stop on both set to 9470
It will either work or I will rethink this short idea.
Never give up, never surrender.
“It is not only Venus that is turning retrograde this week (May 13). Saturn and Jupiter also turn retrograde on May 10 and 14, respectively. Three planets turning retrograde in the same week is a rare cosmic phenomenon and just adds to the probability that something major may be announced that could jolt financial markets into a sudden reversal. We are focused mostly on the history of Venus turning retrograde, because this 19-month planetary cycle has played out an important story line several times recently. It occurred on October 10, 2002, which was the exact date of the end of the stock market decline following the burst of the dot com bubble in 2000. It was there again on March 6, 2009, which was the exact date of the stock market bottom (72-year cycle low) during the Great Recession of 2007-2009. The last time Venus turned retrograde was on October 5, 2018, just two days after an all-time high (4-year cycle crest) that was followed by the dramatic decline to the 4-year cycle low on December 26, 2018, and the largest decline since the Great Recession, until this year. Venus retrograde may not be that dramatic this time, for no long-term cycle low or high is likely now in stock markets. But in 80% of cases, a primary or half-primary cycle (or greater) tends to happen within 12 trading days of Venus retrograde, and most of the time, in 7 days or less. And stocks are in the time band for either a primary or half-primary cycle this time too.”
Very, very useful information David and not one that I usually follow.
Would I be right in assuming everytime its been a top, its been a blow off top?
To me this action currently is not blow off (not yet anyway) but very Grind up stuff.
Maybe that’s why Merlin has it mad up this week?
Plan your trade, trade your plan!
A mini M worked a treat into close. If the bigger 60 min M plays out then 2900 is the minimum target (should be lower) for that tomorrow.
Very interested to see action tomorrow after today. I am thinking bearish 🙂
Plan your trade, trade your plan!
SPX: I wonder if a rising wedge has completed (see chart). It isn’t perfect because of the lack of overlap. A drop below 2,900 will be the first sign that it might be complete. A print below the parallel line currently at about 2,890 will confirm that the uptrend has changed.
NDX: NDX100 hit the upper target. The target was at 9,341 and it hit 9,346. If it goes any higher the 1.618 pattern will be invalidated. What we need to see is a daily reversal candle to confirm a top, and that probably requires a gap down followed by red, or an outside reversal.
NYA: like the Dow and S&P, the NYA displays a likely rising wedge formation for wave ‘B’. Unlike the S&P, this wedge doesn’t appear to be complete (yet). Having said that, sometimes the final ‘e’ wave can fall short. Whether that’s the case this time remains to be seen.
Summary: NDX has hit the upper edge of the target box. SPX appears to have completed a wedge (or has one final pop to 2,951). NYA has completed a wedge with a truncated final move, or has a small edge higher to complete.
Small short NAS at 9334 … stop 9470 … limit 8833
Closed at 9250 … bank some points.
…I still hold the NAS short @ 9250
Never give up, never surrender.
A mini M worked a treat into close. If the bigger 60 min M plays out then 2900 is the minimum target (should be lower) for that tomorrow. Very interested to see action tomorrow after today. I am thinking bearish 🙂
It hit 2895 on ES last night and 2905 now. Should revisit it later
Plan your trade, trade your plan!
Tuesday and Wednesday are there for the bears.
From the US close Ftse and DAX futures fell over.
AUS200 did not look too happy either.
Need euroland rth and US rth to confirm we have witnessed
some sort of cit.I noticed a leading US bank predicting Spx 2400 over a 3 month window.
I am not expecting too much and just want a profit from my shorts
in the Tuesday – Wednesday bear window.Never give up, never surrender.
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