S&P 500: Could we still see an upward move?
|Recap 8/15 - The S&P opened with an 11 handle gap down and then declined another 12 handles for a first minute low of the day. From that low, the S&P rallied 24 handles into a 9:59 AM high. From that high, the S&P declined 17 handles into an 11:13 AM low. From that low, the S&P rallied 38 handles into a 3:50 PM high of the day. From that high, the S&P pulled back 6 handles into the close.
8/15 – The major indices had a small to moderate up day to finish with the following closes: DJIA + 151.31; S&P 500 + 16.99; and the Nasdaq Comp. + 80.87. 8/15 Review – We were looking for a possible first hour high and instead got a first hour low. There is a slim chance this could still work if the market immediately turns down during Tuesday’s first hour. Otherwise, we’ll have to chalk up the 8/12 AC change in trend as a miss.
Looking Ahead – We have three points indicating a turn for 8/17. Please see details below.
The Now Index is in the NEUTRAL ZONE.
Coming events
(Stocks potentially respond to all events).
2. D. 8/12 AC – Moon’s North Node Parallel Uranus. Major change in trend CATTLE, COTTON, Copper, Silver.
E. 8/16 AC – Helio Jupiter enters Aries. Major change in trend Coffee, Corn, Gold, Oats, OJ, Silver, Sugar, Wheat.
F. 8/18 AC – Moon’s North Node 45 US Venus. Moderate change in trend US Stocks, T-Bonds, US Dollar.
G. 8/19 AC – Geo Mars enters Gemini. Important change in trend Stocks.
Stock market key dates
Market math
8/17 = 20,643 music days > 2/09/1966 MAJOR HIGH.
8/23 = 17,424 (132^2) days > 12/09/1974 MAJOR LOW.
8/28 = 8,192 music days > 3/24/2000 MAJOR HIGH.
Fibonacci – 8/17, 8/22,
Astro – 8/12, 8/15, 8/19, 8/24, 8/26 AC.
Please see below the S&P 500 10 minute chart.
Support - 4285, 4228 Resistance – 4310, 4367.
Please see below the S&P 500 Daily chart.
Support - 4285, 4228 Resistance – 4310, 4367.
Please see below the August Planetary Index chart with S&P 500 10 minute bars for results.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.