SHORT

from late friday

The question now becomes, DID the FED doo enuf?
Now my answer is " IT MAKES NO DIFFERENCE !!"

The markets are forcing the players to react, but UNTIL the cycle is complete, dont expect any immediate reaction.
what about Friday ? You ask, the market responded to the Fed, right? NO it was the the Fed responding to the market. Friday would have happened no matter what. The CYCLE calls for a continuation of the correction till october or even November. but more on that later.

For NOw we have to deal with making money this week. last week's low hit -343 on the 16th at 180 bars, so you can see how important that knowledge.

most of you im sure go to charts edge, and lately they have been terrible- it becomes very misleading when they show you a chart and only one day is correct.
However, there long term 3 month chart seem to be ok.

Charts edge 3 month chart shows a low around the 15th, and up toward the end of August.
NOW, heres the rub.
WIll the market move UP like they show from the 15th to the end of the month, OR
Or will the correction continue and make lower nubers next 2 weeks??
Elliott wave has the appearance of a 3rd or 3rd right now, and thus any upside within that wave is extremely limited, but where is the end? 3rds are the longest and strongest, and they can extend in time rather than spike lower in a crash like move.

My anaylsis for next week looks like this:
DOWN on Monday and Tuesday. HOW LOW is LOW ??
UP on Wed to Friday AM
Friday Down to Tuesday the 28th.
then up till the 31st.

Best wishes this week
Jay