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.