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.