IMPACT is looking bullish, but also not by very much
NO breakdown under 1457 is suspicious that we might get one more for the Gipper
Equinox on Spt 22nd seems to be acting like the FULL MOON ENERGIZER BUNNY
Power Data showing weakness thru the 20th and one more runup on Friday, probably rolling over to Monday
MONDAY'S Psych read says -- BE FLEXIBLE and get ready to try and avert a CRISIS-- EXPECT SUDDEN CHANGES
Tuesday to Friday seem possible to make some headway lower.
** EKG & Power Data noted above are only available to VPN members
EW -MACD, RSI, etc indicates a high MAY HAVE BEEN scored on the 14th at 1474, thus we would need to see one more LOWER HIGH as WAVE B , or wave 2 @ 1467-68, prior to starting a serious dip in wave 3-
Look back at JULY 2011 to see something similar.
(WE cant rule out a higher high, but that doesn't seem likely any further - The evidence for a more serious decline is building.)
THIS scenario would also leave NEXT WEEK for a MORE SERIOUS
drop to 1440 or 1428 at best.
NOTE THIS --MARKETS MOVE SLOWLY UNTIL they SPIKE which is always accompanied by NEWS of some type- NO --- NEWS does NOT make the market, even tho it seems that way to the untrained eye- IT was going to happen with or without the news-
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ALSO
NOTICE THE RSI on both graphs are OVERBOT -- Above their normal ranges--
SO, its NOT a Matter of IF, but just a matter of WHEN
strong SUMMERS often lead to a WEAK Autumn-
When autumn leaves start to fall. -
SELL IN May was only TEMPORARY
June4th started the final RUN
Very SIMILAR to 1987--- NOT THE SAME-ONLY SIMILAR
Had a Wild APRIL-- summer rally HIGH AUG 25th
UP again after labor day LOW into Mid Spt
down late Spt and higher again Oct6th -MAJOR TURN to crash
the 5% drop in OIL must be forewarning us of something that is about to unfold for stocks.
HIGH prices of OIL in 2008 coincided with the TOP then, along with Lehman at that timeBUT OIL prices collapsed as well as stocks during the same period into 2009.
More Later, whenever I find something interesting
STAY TUNED FOR FURTHER UPDATES
Jay
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