The collision of global markets and social mood

Monday, July 7, 2014

Stock Smash Records, The Next Bradley Turn Date, And Spec Wave Counts Up & Down

Not surprised to see the futures down this morning given Thursday's closing headline on Drudge Report.

Even so, the full moon is July 12th, at 7:25 am EDT, and look what it lies up with.

With the current wave count looking like another up-down sequence is possible in the near term, the July 11-17th window (+/- a day on either side) could present the next opportunity.

A Fibonacci extension at 1987.08 may or may not have been close enough for government work for Thursday's spurt higher. However, the next higher Fib extension is 2002.30 and lines up with the above wave count and the July 11-17 window.

At this point all speculative wave counts that have been presented here over the past several weeks (including the wedge) require almost immediate confirmation or else it is possible that the entire wave count from the 2009 low is indeed an impulse (albeit a sloppy one) instead of a large B-wave and would suggest we are still in a major wave 3 with a large wave 4 to come (possibly to the 1700 area) and a wave 5 to the 2200 area.

Meanwhile, the arc hangs in there, the TRIN closed last week at .55 in the sell zone, and options are cheap.

No comments:

Post a Comment