Once again we have SUCCESS with the EKG still at 68%
and it appears the OBV & macd indicate a lower open for tomrrow
150bars @ 3pm was only a momentary blip on the way down off the earlier highs
BUT tomrrow could give NO REAL evidence of weakening until late in the day
Repeat the reading - $ wasted & avoid risk
Today's energy as previously described is BENEVOLENT
But after today, we will see the real identity of the CURRENT WAVE, and it is
It will LEAVE NO DOUBT what has happened, but the major move will come
from the energy coming this WEEKEND SHOCK-
the kind that we havent seen in a long time.
That will SETUP the WKEND FEAR SYNDROME that will follow the
MARKET higher as it climbs a WALL OF WORRY , but all that will WAIT until
AFTER THIS WAVE ends on SPT 1st, making it into next year- to be discussed later.
YES, as noted before, of course there are setbacks along the way,
but on August 24th, the ARMS 5 & 10 will be DRAMATICALLY higher leading to a TECHNICAL rebound as mentioned above.
I had previously NOTED the WAVE structure that I anticipate from
NOW till Spt 1st, but here it is again.
The EDT ended on Aug9th
wave 1 ended yesterday at OPEN
wave 2 ends today, and or tomorrow AM
wave 3 ends possibly on August 25th, and it should take the from of FIVE waves of its own.
It is also likely, to expect the mkt to LOSE 10% by Friday August 20th
from its original high on August 9th at 1128 = 1015 Approx value
and the OTHER 20% in wave 3 of 3 of 3 on Monday August 23rd
leaving [4 of 3] & [5 of 3] for the 24th and 25th- expect INTRADAY WILD SWINGS
wave 4 to complete on or about August 30th in the AM
& last but not least
wave 5 to complete by SPT 1st
the mkt next 2 weeks should emulate the 1987 CHART I published
Fascinating time line -- USING the 377 Day CYCLE identified by Stan Harley
A Major cycle low was due in April 2007
but it occurred on MARCH 13& 14th, 2007
Add 500 tr days get us to MARCH 9th, 2009
Add 377 trade days = Spt 3rd, 2010
As previously mentioned, August 24/25 falls within the 370 to 377 tr day cycle