Results and update: S&P 500 is stuck in a trading range
|SPECIAL ANNOUNCEMENT – The Fed will make their FOMC policy announcement on Wednesday, September 22 at about 2:00 PM EDT.
SPECIAL FEATURE – There was a Full Moon Volcano.
9/21 Recap: - The S&P opened with a 16 handle gap up and then traded another 20 handles higher into a 9:48 AM high of the day. This also capped a 90 handles rally from Monday afternoon’s low. From that high, the S&P declined 27 handles into a 10:54 AM low of the day. From that low, the S&P rallied 37 handles into an 12:14 PM high. From that high, the S&P declined 33 handles into a 2:29 PM low. From that low, the S&P rallied 23 handles into a 3:16 PM high. From that high, the S&P declined 22 handles into the close.
9//21 - The major indices, capped a huge recovery rally from Monday’s lows, in line with the Full Moon, and then declined to retest Monday’s low. This resulted in a mixed day with the following closes: The DJIA - 50.63, the S&P 500 Index - 3.54, and the Nasdaq Composite + 32.49.
Looking ahead – Tuesday, shortly after the opening, we had a Full Moon high. However, so far, there has been no follow thru by taking out Monday’s lows. This may be an indication the S&P is stuck in a trading range for a few days. aking out Monday’s lows or Tuesday high, would indicate a larger trend move.
The next major change in trend window is due over the 9/24 weekend.
The NOW Index has moved back to the NEUTRAL ZONE.
Coming Events
(Stocks potentially respond to all events).
3. F. 9/20 AC – Full Moon in Pisces. Major Change in Trend Financials, Grains, Precious Metals and especially COMMODITY INDEX and OIL.
4. A. 9/24 AC – Mercury in Libra turns Retrograde. Major change in trend Corn, Oats, Soybeans, Sugar, Wheat.
B. 10/01 AC – Venus Aphelion. Major change in trend Cattle, Copper, Corn, Cotton, Gold, OJ, Sugar, Wheat.
Stock Market key dates
Fibonacci – 9/25.
Astro – 9/27, 10/1 AC.
Support - 4305 Resistance – 4385, 4415.
Support - 4305 Resistance – 4385, 4415.
Planetary Index charts with S&P 500 10 minute bars for results.
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