Market Update

The Actual LOW did occur on the 28th at 10:15 am within a few minutes of the Lunar/Uranus conjunction.

The REBOUND took the form of 5 waves,

30 spx points were lost in the decline from Nov 22 to 28.
30 x 78.6% = 24 pts
1378 low + 23.65 = SPX 1402
So far it has HELD resistence

Next big move should be a drop to 1372 spx = wave equality of 30 pts from there
Monday DEc 4th appears to be the big day, BUT I would suspect friday to contribute.

Jay

November 28,2006

After a sharp drop on Monday, the market hit a low Tuesday at 10am, right on a Lunar/ Uranus conjunction and spent the rest of the day sleeping regardless of the Bernanke speach.

Whats in store for tomorrow?

WE are within the Bradley orb plus or minus one day, so a LOW could occur on the 29th.

Stan Harley discovered a 259 bar rythmic cycle, and tomorrow at 2:30 pm hits 180 bars within that cycle. MY own observations indicate that point could turn in a low for this week.

End of month buying should take over on Thurs and Friday

However, Monday, Dec 4th holds out for another dip.

That should complete a minor correction.

I dont think the TREND has changed to DOWN quite yet, and there may be higher levels coming by mid Dec.