RECAP FOR THE WEEK OF: Aug 17, 2009
I expect the rally we have seen over the last two months to make one more attempt at higher highs on Monday and/or Tuesday. After this week, we start moving down. Also looking for large price swings and lots of volatility.
A weekly Gann reversal formed on 7/17, and a daily Gann reversal formed on 8/12. Mmmm... what do you think is going to happen now?
Precious metals are set to move higher in the next couple of weeks.
Big mover this week should be Monday.
Follow Up
Monday was the big mover (DJI -186)
View past OEX REVERSAL dates.
FORECAST FOR THE WEEK OF: Aug 24, 2009
We had two strong positive cycles in the last two weeks. Both pushed the market higher. We have one negative cycle this week, and we are on our way to a strong negative cycle that will influence the markets for a number of weeks.
Did you know people are using cash advances on their credit cards to buy stocks because they think the recession is over. They are wrong on two points: It a depression brewing, not a recession; and it ain't close to being over.
Wednesday should be the big mover this week, and should mark a change in direction. I would put my money on Wednesday being a big down day.
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RECENT SINGLE DAY MOVER PREDICTION RESULTS
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WEEK OF
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PREDICTED
|
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ACTUAL
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NOTE
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| 05/04 |
05/04 |
|
05/04 |
|
| 05/11 |
05/11 |
|
05/13 |
11th was 2nd |
| 05/18 |
05/18 |
|
05/18 |
|
| 05/18 |
5/21 2nd |
|
5/21 was 2nd |
|
| 05/25 |
05/26 or 05/27 |
|
05/26 |
27th was 2nd |
| 06/01 |
06/01 |
|
06/01 |
|
|
06/08
|
06/11 or 06/12
|
|
06/11
|
12th was 2nd
|
| 06/15 |
06/15 |
 |
06/15 |
|
| 06/22 |
06/22 |
|
06/22 |
|
| 06/29 |
06/29 |
|
07/02 |
06/29 was 2nd |
| 07/06 |
07/06 |
|
07/07 |
Off by one |
| 07/20 |
07/20 |
|
07/23 |
07/20 was 2nd |
| 07/27 |
07/29 |
|
07/30 |
Off by one |
| 08/10 |
08/10 |
|
08/12 |
Missed |
| 08/17 |
08/17 |
|
08/17 |
|
|
|
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|
FINANCIAL EVENTS THIS COMING WEEK
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Monday, 24-Aug-2009
11:00 4-Week Bill Announcement
01:00 3-Month Bill Auction
01:00 6-Month Bill Auction
Tuesday, 25-Aug-2009
07:45 ICSC-Goldman Store Sales
08:55 Redbook
09:00 S&P Case-Shiller HPI
10:00 Consumer Confidence
10:00 State Street Investor Confidence Index
01:00 4-Week Bill Auction
01:00 52-Week Bill Auction
01:00 2-Yr Note Auction
Wednesday, 26-Aug-2009
07:00 MBA Purchase Applications
08:30 Durable Goods Orders
10:00 New Home Sales
10:30 EIA Petroleum Status Report
01:00 5-Yr Note Auction
|
Thursday, 27-Aug-2009
08:30 GDP
08:30 Jobless Claims
08:30 Corporate Profits
10:30 EIA Natural Gas Report
11:00 3-Month Bill Announcement
11:00 6-Month Bill Announcement
01:00 7-Yr Note Auction
04:30 Fed Balance Sheet
04:30 Money Supply
Friday, 28-Aug-2009
08:30 Personal Income and Outlays
09:55 Consumer Sentiment
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Source: MyPivots
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