This video discusses the precarious position the stock market finds itself and discuses the implications for a future correction. This setup may have an adverse effect on the oil/energy markets.
Like our new Facebook page to stay current on all things Smart Money Tracker
Gary — could Thursday have been a shallow DCL for the stock market with a swing low occurring on Friday?
I think it was way too shallow to be a natural DCL. DCL’s should reset sentiment and nothing yet has done that.
But that doesn’t mean the PPT can’t keep propping up the market.
Good question!!
Looking for a low around the 9th of September.
High around the 19th September.
It looks like the above dates have flipped so now looking for a LOW around the 19th of September. Let it ride.
Sometimes, technical indicators including cycles , which have been working for a while may stop working. That is the nature of the market. There is no perfect indicator. All indicators fail at times.
Looks like Oil recovered some of those losses this evening. What a difference a day or two can make. 😀
A solid correction will come in Q1 next year as the YCL will be charted.
But now, a shallow DCL and stocks advance in spite of strong selling on strength and Russell’s and transports’ leads are indicative of a runaway move that is worth riding this month.
Then a strong dailly cycle decline will ensue in the beginning of October followed by a final advance into December.
Exactly Alex. I think Gary is wrong in thinking a 31.8 retracements is happening in Sept. SPX as long as it did not make a lower low, it’s safe for this rally. This month will likely rally. After a small correction , continuation til next yr. This period could be the period where tech stocks, Hk, China stocks, gold silver stocks, oil stocks, toilet bowl stocks, bath tub, kitchen sink stocks all rally together!
Next year, post first quarter, time to be super defensive. The year of “7” is coming. But let’s enjoy this super bull first
Yes, indeed, Chris!
Let’s and let the greens pour in!
Main site down again?
India is looking superstrong long term, maybe a long rising trend for 15years.
japan looking superweak, they are running on fumes with QE25 by now. Watch out for a collapse of the NIKKEI in 1,2-3years time