Preliminary indications for a Monday high are still posible
If we get a spurt at the open, it could offer the best shorting opp in 2 weeks.
Jaywiz index shows .15 and lowest value in 2 wks
Gold dropping, Oil and commodities all making lower numbers, and should continue this week - we need lower gas prices. $3.50 or lower would be ok for now, and lower later.
Friday was an 8 day high, making Monday a 9 day TURN which should make for a WEd low
Still got potential for Aug 22nd TOP which may or may not be higher than spx1312. Several attempts to break out are common when you get intermediate uptrends. Many still expect the july 15th low to be tested, and thats my lead for the next paragraph.
My19th high @ 13,000, and spx 1440
Jly 15th LOW was 40 trade days and Dow 11,000 with spx @ 1200
There was an NYSE record of 1304 new lows that day- so we should be watching NOW for a lower SPX, NYSE low with LESS new lows for the day in order to say we have seen the BOTTOM. IF there is a lower low with MORE new lows, then we havent seen the bottom
Spt9th is the next important Bradley date and is coincidentally 40 trade days from July 15th
Add another 40 trade days from there takes us to Nov 4th, AH yes Election day and Ive mentioned it several times over the past few months as having a grouping of tough aspects occurring on the 3rd and 4th.
At the Spt 9th date, there is a large grouping of MIXED aspects on Sun the 7th , 8th and 9th which dont appear
to be abundantly negative, thus I think it would be prudent to consider that date a high. In between, however, as mentioned above we have a possible high on Aug 22nd, and now we are thinking a low on Spt 3th with potential rebound to the 9th.
All in All the Fall usually is a tough time for stocks, and with an election upon us accompanied by some very difficut aspects, I would venture to say we should not expect anything in the way of a strong rebound until after nov 4th. In other words, another rebound such as July 15 TO Aug 11th is not expected, but a NEITHER is a CRASH
Best for Now
Jay
1 comment:
Love your blog and also your boldness in predicting what you think/believe in.
Having said that, since most (including you) are not expecting a CRASH, maybe that is precisely what we may get.
There have been too many Hindenburg showings recently.
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