Norm Winski
Independent Analyst
Recap 08/10 - The S&P opened with a 58 handle gap up and then rallied another 17 handles into a 9:50 AM high. From that high, the S&P declined 21 handles into a 10;21 AM low. From that low, the S&P rallied 33 handles into a 11:06 AM high. From that high, the S&P traded into a 15 handle mostly sideways range, culminating with a low at 3:00 PM. From that low, the S&P rallied 17 handles into a 3:47 PM high of the day and the close.
8/10 – The major indices had a huge up day and finished per the following closes: DJIA + 535.10; S&P 500 + 87.77; & the Nasdaq Comp. + 360.88.
Looking Ahead – The next major change in trend is due 8/10 AC and we have another MAJOR one 8/11 AC, Please see details below. Now, it’s getting very interesting. Due to Wednesday’s big rally, the S&P is now flirting with the 4228 level, which is a 50% retracement of the entire 2022 bear market. The 8/11 AC change in trend is potentially the most powerful of the three day window with a Full Moon and Mercury 0f South Latitude. For everything to perfectly converge, and that seldom happens, we would like to see the S&P around 4288 at the 8/11 close or 8/12 open, and for that area to hold. However, it seems that with Wednesday’s big rally, the price may have gotten somewhat ahead of the time, making that scenario less likely. Anyway, stay tuned, it should be very interesting.
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
8/10 = 12,769 (113^2) days > 8/25/1987 MAJOR HIGH.
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 - 4150 Resistance – 4228.
Please see below the S&P 500 Daily chart.
Support - 4150 Resistance – 4228.
Please see below the August Planetary Index chart with S&P 500 5 minute bars for results.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.