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DOW: although this strong rise has all the hallmarks of a ‘five’ I wonder if it is a large ABC. A rising wedge of threes for the final ‘C’ would make sense.
In which case we might have seen abc for ‘A’, now tracking sideways for ‘B’.
‘C’ would have a target around 31,248.
This is all just guesswork and speculation. I don’t have a position and I’ll wait to see what happens…
DOW: still rising. This can be dramatic ‘B’ wave of an expanded flat or (more likely) the final big C wave of the big ABC, in which case much higher prices are coming.
Cannot be bothered with these markets. So I’m out…
Listening to Szymanowski’s first violin concerto and of course the very deep violin concerto by Alban Berg…
DOW: very similar picture to NYA. This can be an expanded flat thing (in which case prices will tumble quickly) OR it can be completion of the first ABC, B now in C up to much higher prices.
Very strange markets fueled by liquidity and speculation.
I don’t have a position and I’m happy to stand aside (for weeks if necessary) until I get a pattern that gives high reward/risk.
Extraordinary differences between NAS and DOW …
I don’t have a position and I’m content to be away from the market…
The markets exceeded my targets by quite a lot, which invalidates my patterns.
I was short at the targets but a small position which I sold out at a modest loss. Simply no point in maintaining a position when the patterns have been invalidated.
For the NYA (and others) it’s *possible* that an expanded flat has developed in which case the markets will fall quickly and sharply (see chart). This is a *guess* and I don’t have much faith in it.
For the bullish view it’s possible that ABC followed by B has completed in which case much higher prices to come.
This is a point where I need to stand aside and wait to see what happens. Might take a while…
DOW and SPX futures hit the targets. DOW exceeded a little. Is that the pop?
Targets are for cash. Perhaps the futures will retrace a little before the open…
Targets: NYA: 13,450 DJI: 28,660 SPX: 3,570
Futures have opened strong as expected but are well short of my targets.
I am content to sit back and wait to see what happens…
DOW: if the expanded flat abc idea is correct, the DOW should decline rapidly to about 26,010 where C=A. Of course much depends on the action over the next day or three.
“In the meantime, we have another cosmic gathering brewing over the next few days. Between November 9 and 19, Venus will be in opposition to Mars, and both will form a cardinal T-square to the Capricorn stellium of Pluto, Jupiter, and Saturn. In the midst of this cardinal T-square, Jupiter will also make its third and final conjunction to Pluto on November 12, while Mars ends its two-month retrograde cycle on November 13-14. These latter two signatures are extremely powerful. The Jupiter/Pluto conjunction of November 12 has an 88% historical correlation to primary cycles within 11 trading days. Mars direct on November 13-14 has a 75% correlation to the same within 11 trading days. Both are thus powerful Level
1 geocosmic reversal signatures. The lows in world stock indices on October 29-30 were within these 11 trading days orb of time and may have coincided with the primary cycle trough. But since the middle part of this heavily-laden geocosmic time band occurs this week and stock indices (and Bitcoin, currencies, and metals) are rising sharply into it, we cannot rule out the possibility of yet another sharp reversal.”This from Martin Armstrong:
“Trump is not conceding and this will end up in the courts. We still see the target being the week of November 23 and then Panic Cycles come in December.”
For the panic cycles in December, I’ve seen a number of reports about imbalances in the options market for December, reminiscent of the same imbalances that caused the ‘flash crash’ in December 2018.
NYA: I’m looking here for a ‘pop and drop’ situation.
The target for completing the ‘big rising wedge’ is 13,450. Whether it will get there remains to be seen. A sharp markup following the election result is a likely sell.
The final ‘five’ I’m showing on the chart isn’t perfect. But there are no overlaps so one must assume a five.
