Tuesday, October 31, 2017

Oct 30, 2017

The 2548/49 target seems to be the best fit for the SPX and likely by early Wed.  This current sideways 'b' wave bear flag could take into about 12:50 today or mid session (EDT).  A slightly higher high than the early one is likely but not by much (2577?).
This would mean a Wed-Friday move to new highs (2587?) forming a H&S top suggesting a low on the 57 TD low next Thursday (Friday-Thursday down) to the 2502/10 level.
GDX is suggesting a top next Thursday based on the Equality of Waves Principle.  I would think GDX trades opposite the SPX into that expected top.  Today, GDX has pulled back some, so I expect a rally into Wednesday then a pull back into Friday. GDX looks to be building a bear flag with an expected low in DEC.

Sunday, October 29, 2017

Oct 29, 2017

The SPX is making a non confirmation top on the momentum indicators,  The daily stochastics suggests a top on Monday around 2583.  A quick drop into Wednesday seems plausible, perhaps below 2530, even as low as 2520/25.
Astro-wise we have a cresting translation of Venus to the Uranus/Pluto square from Oct 27-Nov 4. Nov 3/4 also sees the Sun trine Neptune on the full moon, which should also be a top.  The next Bradley is due Nov 6/7 which is also near a TLC low around the 7th, so we might see a double bottom on TD 55 (ten week low +/- 6 or 7 TD's).  Nov 4 sees Venus opp Uranus with the full moon, so that weekend should lead to selling on Monday and Tuesday.
Wednesday next week is an 8+1 and 4+1 TD low and also a Sol/Sat turn. Friday is a 4 TD top on the employment report.
The trend and main 20/40/80/160 cycles are up.  This looks to be a short term blip. Still, momentum is waning on this recent rise as well as volume, so upside is likely going to be limited with the bulls and bears dooking it out more and more (slight advantage to the bulls) even into August 2018 where an important crest will be likely near the 2680's I'm thinking. April next year should see a 9 mo. cycle soft spot.
Dec 2, 2017- August 19, 2018 sees Jupiter trine Neptune, a topping signature. December will likely see a slight break of 2600 with more selling mid/late in the month probably due to the FED raising rates (Dec 11-22?).
GDX looks to be in a bear flag with X probably finished and Y coming into the week after next (Nov 9?) and Y finishing B with C likely down into Dec.

Wednesday, October 25, 2017

Oct 25, 2017

My current projection suggests a possible very short term support at 2553 today followed by a rally to 2571 by Friday.  The 57 TD low (last seen July 6) is due Thursday Nov 9 near 2499, the 50% retracement of the rally from August 21.

GDX is in TD 17 of the 16 TD low and positively diverging.  We may be in a sideways bear flag. IF so, we may see X here then Y to the upside a couple of weeks down the road.

Update: 11:35 AM EDT: A move back up to cover the gap at 2569 by Friday is in the cards. From there, down to the 2495/99 area seems logical by Nov 9, the 57 TD low (last seen on July 6 from the April 13 low).

Tuesday, October 17, 2017

Oct 17, 2017

The big play right now looks to be GDX long: NUGT and GDX calls for leverage.  GDX could hit 24.69 +/- by early Thursday.

The SPX continues its topping action, which may continue into Wednesday.  A minor low is on our radar for Oct 23. Resistance is near 2560.

Monday, October 16, 2017

Oct 16, 2017

The magic number for me would be SPX 2560/61 today in the first hour of trading.  IF that does not happen, then a slightly different scenario would be in play than previously thought (a high and low in the same day). The previous (x) wave ran 2 TD's (Oct 5-9) so IF today is wave (y), then (z) could run 2 TD's also, which points to a Wednesday low.

Wave (x) ran from 2552 down to 2541.  Normally, wave (z's) are  c's: hard waves down.  An xyz scenario right here going down into Wed would imply higher prices directly ahead.  IF we do the previously thought of scenario (hi/lo) in same day, the resulting scenario would imply a choppy move move to new highs by the end of next week.

GDX could move a little higher on open today, but my thinking suggests a pull back today followed by a big move up on Wednesday.

Sunday, October 15, 2017

Oct 15, 2017

SPX: Monday is TD 15 from the 24 TD (5 week) low (August 25) and should be both a top and bottom.  Resistance is near 2560/61 and support near 2536/37.

The week ahead should be choppy going into OPEX Friday (Sun opposite Uranus on the new moon Oct 19).  There is a Bradley turn Monday and around Friday/Monday next.  Next week should be range bound and indecisive. A possible important top near 2567 may be due on the 26th (8 TD top/Sun conj. Jupiter).  A minor low is due Monday the 23rd.
GDX: GDX is in TD 9 off the recent low and is due a pull back Monday to around the 23.40/50 area.  Mercury conj Jupiter on the 18th is bullish for GDX with a target into the 24.40's.
The two best option trades this week, IMO, will be shorting the SPX 2560/61 (SPY Oct 18 puts strike 255.00 target 253.20) Monday and buying GDX long (Oct 20 calls 23.50 strike target 24.40/.50) from late Monday into Wednesday.

Thursday, October 12, 2017

Oct 12, 2017

The SPX made an xyz bull flag today suggesting higher prices into Monday, which should also be a low.  I expect 2560 by Monday then a quick test of 2536 the same day to cover the recent gap up.  Monday is TD 15 off of a 24 TD cycle low.  We had similar moves in early June and again in late July.  All shorts should cover at 2536 and go long as another new high should result.
All momentum indicators are rolling over suggesting after the next high after Monday we should see some downward selling. Friday could gap up.
GDX should see some selling early Friday followed by strength.

Friday, October 6, 2017

Oct 6, 2017

I'm giving an IT sell signal on the SPX and NASDAQ COMP and NDX 100 (QQQ).
SPX target is 2465 by Oct 30/31 (the ten week low). March 1 to June 19 top = 76 TD's.  76 TD's from June 19 equaled Oct 5 (Hadik has a top due on the NDX between Oct 5 and 6). The NDX topped on July 27 and went down 17 TD's.  On March 1 the SPX went down 18 TD's.  This times a low around Oct 30/31 down about 3.4%. Oct 30/31 is the 10 week low from August 21.

GDX is on a strong buy signal.  Same with gold. I bought GDX 23.00 calls Oct 20, 2017 this morning at GDX 23.05.

Thursday, October 5, 2017

The SPX's move is surprising everyone including me.  8 straight days up.  The 6-7 week lows run 32-38 TD's. Upward resistance is 2557/58 for Friday and 2560/61 for Tuesday next week.
Likely we see 2487/88 by Friday the 13th, the 35 TD low (35+3). Also 14 TD's from the 24 TD low which was 14 TD's from the low before that.  Mars sq. Saturn on the 11th is hugely war like and could involve Rocket Man and Trump.

GDX should benefit next week

Wednesday, October 4, 2017

Oct 4, 2017

SPX now at a 48 TD high (since July 27).  The 32 TD low is due Oct 5 +/-.  The 8 TD low is due Oct 5 +/- 2 TD's. Looking for a pull back over the next few days.

GDX is looking stronger.

Tuesday, October 3, 2017

Oct 2, 2017

The 32 TD low is due Thursday on the full moon with Venus conj. Mars.  We have Venus trine Pluto tonight and we are 47 TD's out from the July 27 high, which is 48-1.  A 7 week low is due Oct 11, which is the 7 week low: perhaps a double bottom.  There is a Bradley Geo turn due between Oct 3 and 5. Another due on the 8th and then around the 12th.

Tomorrow sees the 24 CD turn which in the past often times tags the acceleration points both up and down (May 17, Aug 17, Sept 11). Downside target is first around 2475 +/- 1 TD then near 2461/62.

GDX is still positively diverging.