S&P looks higher into Monday

FOR WEDNESDAY: (10/31) Is S & P done yet? 2600 may be enough and much above 2700 now and the bulls may attempt to come back in and start a retracement into Monday. Choppy action should continue and because we missed key gold sale numbers, we now have to wait and give them a chance to happen into Friday.Continue reading

Open to one more S&P low Monday morning

FOR MONDAY: (10/29) The cycles around terrorism and explosions for the US are still strong into Tuesday and we wonder how spooked the market will be by the Pittsburgh incident. Too hard to take a position on a last short on Sunday but we’re still looking for lower levels and pattern completions but running out of time for it to fall apart before a 2-week rally in stocks. Dollar should peak on Monday and congest and we have to get out of silver, as it looks vulnerable this week along with gold. Will give crude a few more days to fall apart.Continue reading

Wild cycles on Friday

FOR FRIDAY: (10/26) Cycles are very wild on Friday but may end up to the positive side for stocks so beware if you get too beared out. Monday has a better chance for a deep break than on Friday. Expecting wild congestion. Patterns for crude and metals are far from targets and running out of time for it come in.Continue reading

Major bounce probably coming on stocks

FOR THURSDAY: (10/25) Wild day. Thinking a huge sucker punch bounce could happen, as major support is close at hand for stocks. Market somewhat untradeable overnight but have to pick key numbers. Major bounce probably coming on stocks on Friday at the latest.Continue reading

S&P looking lower into Thursday, Friday

FOR WEDNESDAY: (10/24) Sucker-punch day, and usually bounces happen in 3 waves so a minor pullback may lead to another push up to kill all the late bears. We have a low into Thursday or Friday and higher prices next week but we’re open to a low as late as Monday. In the end, the worst cycles are over this week and the bargain hunters will return soon. Not sure why yet.Continue reading

Volatile cycles this week

FOR TUESDAY: (10/23) Lots of Fedspeak on Tuesday and that always leaves the door open to surprises. Still, the trade faded the positive China news and sold off the marijuana stocks and the banks and the home builders, which are all hurting from higher rates. Cycles are volatile this week with a bias toward shorts into at least Thursday but next week we could get a big bounce so don’t get too beared up for too long.Continue reading

Cycles look rather bearish next week for stocks

FOR MONDAY: (10/22) Cycles look rather bearish next week for stocks and confidence will quickly erode if any bad news hits. Saber-rattling with Russia over the weekend isn’t going to spark any buying so it’s just a matter of finding a good spot for short stocks. Dollar looks lower this week but we need a divergent high, and same with a divergent low for gold to get long on the week.Continue reading

Stocks look higher on Thursday

FOR THURSDAY: (10/18) We have stocks higher on Thursday and the dollar should stall at 9550-9555 and come off. Gold is probably a buy but it looks lower on Friday and we’ll be patient to see how pattern comes in. Crude is almost done with the current flush to 6756. T-notes look like 117.07 will come in to finish the weekly after we were starting to give up.Continue reading

Stocks need a pullback

FOR WEDNESDAY: (10/17) Stocks cycles and overbought conditions from the largest sucker punch since the Trump election need a pullback but if it’s not much, then higher prices and a larger breakout could happen Thursday with Friday looking lower. Those waiting for the next big push lower will probably have to wait for Oct. 22-26.Continue reading