Attached is the updated chart for the Emini S&P futures. My initial chart and analysis can be found in the July 17, 2011 edition of Heard On The Street.
I've updated the chart up though this weeks close and will discuss all the scenarios and implications at further length in this weekends video. While I can't be certain to any outcome, the chart has got my full attention... as it did the first time I noticed the similarities. What's interesting is that after next Friday's close (7/29/2011), there will only be 1 trading day left before the U.S. must extend the debt ceiling or it runs out of money to pay it's debt. Would the Market's reaction be what the chart forewarns?
Just something to ponder while we see how the market closes today.
Best of Trading
The Chinese have a 9-Day count after Summer Solstice--This 4th one will end on 28th (Hong Kong Time) and the 5th one will start on the 29th
ReplyDeleteJil 27 11:04:00 am (Hong Kong Time) will also be the Moon's greatest north declination. The moon will have same declination with Venus first in 25th then on 29th--2011-07-28-09:06am Moon will enter Cancer. On 07/28 Mercury will opposite Neptune--Bet correction by 28/29th