The collision of global markets and social mood

Wednesday, April 23, 2014

Taking Some Time Off

As if a healthy reminder of the unexpected during this week's Cardinal Grand Cross, my trading computer had to go in for service due to what (I'm hoping) are software issues rather than hardware ones. It will take at least a few days if not a week to diagnose and fix, and just in case, I have ordered another replacement which won't be here until the first week of May. Whoa.

As celestial events can be opportunities for transformation, I'm seeing the bright side as best I can. Rather than be upset that my work is disrupted, I will instead use the opportunity to explore a little and visit some places (& friends) I rarely to get to see because of my day-to-day schedule.

Also, one of the only things I miss from having an office job is going out for a leisurely lunch. So I think I'll hit some good spots.

Regarding the markets, after yesterday's rally, the odds have lessened that the fractal down to 1760-1780 will play out. I'm not ruling it out, but am already trying to zero-in on higher targets. These will depend on the angle of trajectory should the S&P get above 1897.28.

1903 and from 1930 up to 2035 were areas of confluence that I had noted on my charts a while ago. Still thinking a wedge shape because of the move from the Feb. 5th lows still looks like a three-wave structure to me, and therefore fits "wave 1" of the diagram below that I found on the web. We could have just completed, or may have nearly completed "wave A" of "3" if it's the correct interpretation.

Two points emerge: higher prices then sharply lower ones. This could take a few weeks, I hope, during which time I will be slacking off and getting ready to hit it hard when I return.

1737.92 remains the hard stop for this scenario.

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