Market Timing-Whats Next -JULY 19th morning update

 

1326 looks possible for 2;30 to 3pm today

The SPX made it to 1320 at 11am, and backed off to 1314 at noon
that low at noon could be labeled as [iv], thus [v] is still out there between 2:30 to 3pm today

After a mid afternoon high today, the POWER DATA index shows a SHARP drop
into tomrrow AM making a low between 10:00 to 11:00am

From there , a strong recovery could get right back to 1326 at close or open on Thsday

1356-1296= 60 pts
60X 50% = 30 + 1296= 1326
60X62% = 37+ 1296= 1333


THe low at 1296 closed out in 5 waves from 1356 on July7th
IS that the WHOLE wave 4 correction?
Do they run now to 1381 or is there too much uncertainty until the debt ceiling problem is resolved?
IF so, then the 4th wave continues in very choppy fashion until the end of the month.

more later
Jay