Short term cycles look to be headed for a breather. But don’t expect much downside. The 13 week cycle has an updated projection.
Posted first at Capitalstool Buttcoin (BTC) blew a gasket. New 4 month cycle projection 47,000. Low of that cycle due now. 18 month cycle projection…
Is this a stick a fork in it moment. The S&P fugutures (ES) say “Maybe.”
Finally something to get excited about. Of course, nobody is here to see it. A stealth crash opportunity if there ever was one. Just imagine the chaos on Monday if this sticks. Here’s a chart and some targets.
We have a new, wider downtrend channel, with a 5 day cycle projection of 4645 on the ES, S&P fugutures.
5 day cycle projection on ES, S&P fugutures 4655-60. But what a mess. If they clear 4685, could be off to the races on the upside again. Otherwise we got ourselves a steep downtrend working.
Reason to Stay Optimistic on Gold
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The 13 week cycle up phase aborted early and the pullback has negated the base breakout. When that happens there’s usually a recovery before a second high that confirms the top. I want to remain optimistic that this will only result in a mild correction/consolidation. As long as the 10-12 month cycle indicators continue to signal an up phase, that’s where I’ll give the benefit of the doubt.
This market is making me feel so sleepy, it’s like I already ate the turkey.
This Friday’s screens had 19 buys and 53 sells. 2 of those were inverse bond funds so we can ignore that. 51 sells is still a big enough number on the sell side to make me sit up and pay attention.
Short term cycles look to be headed for a breather. But don’t expect much downside. The 13 week cycle has an updated projection.
We approach another debt ceiling drop dead date. The next month is thus fraught with unknowns. It makes projecting our QE and PONTs charts beyond the next two weeks all but impossible. We’ll just have to wait and see along with everybody else. Of course we view the world a little differently than everyone else.