RECAP 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.
Follow Up
The market this week made some new highs, but not by much, and every day's candlestick had long tails on it.
Thursday was the big mover kind-of-sort-of (DJI +37.11). On the OEX it was Friday.
View past OEX REVERSAL dates.
FORECAST FOR THE WEEK OF: Aug 31, 2009
The market is nearing the end of a riding wedge. A reversal Hammer has formed on the OEX weekly chart, and it formed at the top of the upper wedge line. The QQQQ weekly chart formed a Doji at a resistance line. We have already experienced Gann reversal signals on both the weekly and the daily charts. I'm looking for a low around Oct 14th.
on the astro front, we saw three palnets change signs last week. Strong indication of a reversal.
Mercury goes retrograde again on Sept 6th. I am expecting some action here.
On the 15th we have the third of five passages of Saturn in opposition to Uranus. Remember, this is the aspect that started the whole mess.
Most active day this week should be Tuesday.
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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 |
|
| 08/24 |
08/26 |
|
08/27 |
Off by one |
|
|
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|
FINANCIAL EVENTS THIS COMING WEEK
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Monday, 31-Aug-2009
09:45 Chicago PMI
11:00 4-Week Bill Announcement
01:00 3-Month Bill Auction
01:00 6-Month Bill Auction
03:00 Farm Prices
Tuesday, 01-Sep-2009
07:45 ICSC-Goldman Store Sales
08:55 Redbook
10:00 ISM Mfg Index
10:00 Construction Spending
10:00 Pending Home Sales Index
01:00 4-Week Bill Auction
Wednesday, 02-Sep-2009
07:00 MBA Purchase Applications
07:30 Challenger Job-Cut Report
08:15 ADP Employment Report
08:30 Productivity and Costs
10:00 Factory Orders
10:30 EIA Petroleum Status Report
02:00 FOMC Minutes
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Thursday, 03-Sep-2009
08:30 Jobless Claims
09:00 RBC CASH Index
09:00 30-Yr Bond Announcement
10:00 ISM Non-Mfg Index
10:30 EIA Natural Gas Report
11:00 3-Month Bill Announcement
11:00 6-Month Bill Announcement
11:00 3-Yr Note Announcement
11:00 10-Yr Note Announcement
04:30 Fed Balance Sheet
04:30 Money Supply
Friday, 04-Sep-2009
08:30 Employment Situation
11:03 Full Moon
03:00 Treasury STRIPS
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Source: MyPivots
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