The best chance for the market decline to continue occurs tomorrow and Friday into Monday
PC ratios are bearish
Look at a Chart of the dow on big charts and use the data for:
Ultimate oscilator -- dropping at close
OBV - dropping from mid day
MACD - blue line crossed over red, and the gap is getting larger.
Solar effects seem to be showing declines the next 2 days, and probably monday, but thats not clear yet.
How long are they going to ignore the dollar under 80
Yes, the FED will most likely lower the fed funds rate by .25, and the 18th with or without them calls for a winning day, and that means UP
BUT the rest of next week is hampered with some heavy duty negative influences, and could drag the dow down thru the 20, and or 21st, the 6 yr anniversary of the 9-11-2001 lows.
21st has some other short term cycles converging on that date also.
Some other very good technical analysts have suggested spx lows at 1330., while others are indicating 1220, and 1170. Take it for what it is, and dont bet on any of them.
whatever happens between now and october 9th will take the spx and dow to whatever level is major support BUT realize that most negative influences will be gone after Oct9th, and the market should start another strong moveup.
Best Wshes
Jay
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