S&P 500 rallied to our first target area of 4203

Norm Winski Independent Analyst

Recap 8/25 - The S&P opened with a 12 handle gap up, rallied another 4 handles and then pulled back 9 handles into a 9:35 AM low of the day. From that low, the S&P rallied 36 handles into a 10:46 AM high. From that high, the S&P declined 29 handles into a 12:50 PM low. From that low, the S&P rallied 45 handles into the close.

8/25 – The major indices had a big up day to finish with the following closes: DJIA + 322.55; S&P 500 + 58.35; and the Nasdaq Comp. + 207.74.

Looking Ahead – The S&P followed thru on the upside on Thursday, which was our preferred scenario. Technically, the S&P rallied to our first target area of 4203, which is a Fibonacci /.382 retracement of the last decline. The next target, if the rally continues is 4229, and then 4254. The ideal scenario is for the rally to continue into the weekend, when we have our next major change in trend window. This would indicate a probable high for Monday. However, if there is a substantial decline on Friday, then we would expect a low on Monday. Please see details below.

The Now Index is in the NEUTRAL ZONE.

Coming events

(Stocks potentially respond to all events).

4. A. 8/26 AC – New Moon in Virgo. Major change in trend Financials, Grains, Precious Metals, Soybeans.

B. 8/26 AC – Saturn 150 US Mars. Moderate change in trend US Stocks, T-Bonds, US Dollar.

C. 8/26 AC – Mercury Maximum Elongation East. Major change in trend Corn, Oats, Soybeans, Wheat.

D. 8/26 AC - Moon’s North Node Contra-Parallel US MC. Major change in trend US Stocks, T-Bonds, US Dollar.

Stock market key dates

Market math

8/28 = 8,192 music days > 3/24/2000 major high.

Astro – 8/26 AC.

Please see below the S&P 500 10 minute chart.

Support - 4180, 4120 Resistance – 4203, 4229, 4254.

Please see below the S&P 500 Daily chart.

Support - 4180, 4120 Resistance – 4203, 4229, 4254.

Please see below the August Planetary Index chart with S&P 500 10 minute bars for results. As of 8/23, I am dropping Planetary Index pages 27 and 29.

Author

Norm Winski

Independent Analyst

www.astro-trend.com

GBP/USD climbs to four-day highs near 1.3250

GBP/USD rapidly reverses Friday’s small losses and challenges the 1.3250 level, or four-day tops, at the beginning of the week. Cable’s upside comes on the back of further loss of momentum in the Greenback, while traders continue to assess the geopolitical front and upcoming key events.

EUR/USD extends the advance past 1.1400

EUR/USD starts the week on a positive note, trading above 1.1400 on Monday as broad-based US Dollar weakness lends support to the pair. In the meantime, investors continue to monitor developments surrounding efforts to end the US-Iran conflict, while attention gradually shifts to the ECB's annual forum and the US NFP data.

Gold falters just ahead of $4,100

Gold remains under modest bearish pressure just above the key $4,000 mark per troy ounce on Monday. The yellow metal struggles to extend its recent gains as renewed effervescence in the Middle East revives inflation concerns and bolsters Fed rate hike expectations.

Bitcoin four-year cycle: BTC risks 75% drawdown with four months of bear market still ahead

Bitcoin price continues to trend downward below the $60,000 support zone after losing over 50% of its value since the $126,199 high in October. Bitcoin’s four-year cycle, measured from cycle tops to bottoms, suggests that four months of a bear market are still ahead.

Just like Fed, is BoJ’s independence under threat?

When talking about central bank independence, most of the focus has been on Donald Trump’s pressure on the Federal Reserve. But a similar story, a quieter one for now, seems to be happening on the other side of the Pacific: Japan’s government may be testing the Bank of Japan’s independence.

Kevin Warsh isn't expected to say much in Sintra: That's exactly why markets will listen

Financial markets could find an important catalyst in the enchanting, fairytale-like landscape of Sintra this week. The ECB Forum will, as it does every year, gather the crème de la crème of central banks. The new boss at the Fed, who has clearly said that the Fed should stop explaining everything, will need to talk – and traders should listen.