Tuesday, September 14, 2010

Update Tomorrow.

I am somewhat busy over the next few days but I am going to try to get a posting up tomorrow.
Bottom Line. I think that the September 21-23rd will be a powerful period of time and that the increasing bullish sentiment in the stock market is going to be the source of MUCH misery over the next few months for those accumulating equity positions. The market is very close to making an important top.

October 5-8th could be a VERY SCARY time period.

Intermediate Term Outlook
U.S. Dollar...stopped out of August 10th Long position Monday--Flat: Neutral to Bearish
T-Bonds--Short from August 26th--128.25 - 128.50 first anticipated support.
S&P--Short from April 28th


Anonymous said...

Great post. I been hearing this 21-23 date a lot recently, 21 is rumored to have QE2 as well as some other esoteric sources. So you think 21-23 will top out?

Fibocycle said...

I think that Sept 21-23 could be a top of a corrective wave emanating from the July 1st low. I am in the middle of "doing the numbers" to try determine the time-price harmonic for the markets--especially the S&P.
If this is indeed the top of a wave 2 then the 1040 and 1010 should be tested and ultimately broken rather quickly.
October the 5-8 looks fascinating--so many dynamic cycles are in play that this time window could be rather crazy.