The major indices, following a big first-hour rally, then give back almost all gains by the close
|Recap 08/11 - The S&P opened with a 17 handle gap up and then rallied another 31 handles into a 10:19 AM high of the day. From that high, the S&P declined 56 handles into a 3:12 AM low of the day. From that low, the S&P traded sideways to slightly higher into the close.
8/11 – The major indices, following a big first hour rally, topped out at 10:19 AM, and then gave back almost all gains by the close per the following closes: DJIA + 27.16; S&P 500 – 2/97; the Nasdaq Comp. - 79.89.
8/11 Review – We had an 8/10 AC change in trend due, which means the ideal window for a turn is the first hour of the next trading day. The S&P made it’s high of the day at 10:19 AM and then decline for most of the rest of the day. The decline, from high to low was 56 handles.
Looking Ahead – We are now on top of the 8/11 AC major change in trend. With the decline into Thursday’s close, this offers a possible buy from a one day decline, which is not a very high probability setup. If Friday is to be a low, the low should be in by the first hour or two. If we get a big up opening, watch for possible top in the first hour or two. There is a good chance that whichever way the market trends on Friday, will be reversed over the weekend with the coming 8/12 AC change in trend. Please see details below.
The Now Index is in the NEUTRAL ZONE.
Coming events
(Stocks potentially respond to all events).
2. A. 8/10 AC – Pluto Parallel US Part of Fortune. Major change in trend US Stocks, T-Bonds, US Dollar.
B. 8/11 AC – Full Moon in Aquarius. Major change in trend Financials, Grains, Precious Metals, Copper.
C. 8/11 AC – Mercury 0 South Latitude. Major change in trend Corn, Oats, Soybeans, Wheat.
D. 8/12 AC – Moon’s North Node Parallel Uranus. Major change in trend CATTLE, COTTON, Copper, Silver.
E. 8/18 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 – 8/11, 8/12, 8/15, 8/19, 8/24, 8/26 AC.
Please see below the S&P 500 10-minute chart.
Support - 4170, 4110 Resistance – 4258, 4367.
Please see below the S&P 500 Daily chart.
Support - 4170, 4110 Resistance – 4258, 4367.
Please see below the August Planetary Index chart with S&P 500 5-minute bars for results.
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