S&P 500 Mini Intraday

Market activity during night hours may be dominated by traders from around the world as local investors may just be waking up. The big boys who bring us new IPOs try to time them for the peak of a bullish cycle. Flooding the markets with IPO’s is a sign of a major top as stocks like LYFT, and UBER fail to make investors happy.

I’m sure we have started a 5 wave sequence and for now, I will be looking for a Minor degree 5 wave run.  Of course, any run like this doesn’t last that long as being out by just one degree will produce “Surprise” counter-rallies that would move outside of the two trend lines.

The goal is a potential “A” wave in Primary degree as that would also give us a  short term buy signal.  Any “B” wave could be very small but might drag out a few months or so.

Folks, we are heading into new territory and any corrective wave count I can come up with, may not last very long at all.

In the last year or so of solar cycles, markets tend to crash but a few times this has not happened like in 1996.



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Intraday DOW 30 Mini Crash Update

This is a 30-min intraday chart of the DOW and it looks like the bearish trend is continuing after the April top. The DOW top did not go to new record highs but ended up falling well short. For now, a slightly truncated or shortened 5th wave will have to do, until this 5 wave sequence has all played out.

I started using a Minor degree run which can be adjusted later on as reviews become necessary. Any Cycle degree top would need at least one “A” wave in Primary degree for part one of a Cycle degree correction.

I’m sure there are daily trading limits with most of these indicies, because if there were no limits many of these plunges would be far deeper and last longer much longer.

We are 90 years from the 1929 crash which makes it 3, 30-year cycles that have completed. Except for some unexpected counter rallies this bearish phase could last for all of May.

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