SP500 E-Min Index Review: Getting Down To the Wire!

The index only moves during the day with some of the wild moves smooth out a bit more.

The recent bullish price surge is getting down to the wire as there is very little room left before the SP500 breaks out to new record highs.

There is also an open gap which should get closed off, but ultimately this wave count has to decline and take out multiple support price levels around the 2830 price level.

They keep talking about a recession but this chart is still at record highs. Record lows would be better as when that happens we know the recession will be over.  2008 was a good recession year reflected by the charts with massive insider buying.

If, we don’t get a significant correction by the time solar cycle 25 is in full force a new bull market should start.

Upswings in solar cycles are very bullish for stocks which could happen by early 2021.  In the next few months, this SP500 would have a long way to go as it has to clear the bottom of my “A” in Intermediate degree.

The Gold/SP500 ratio is sitting at record highs at 1.96  just off the 2:1 expensive ratio I have recorded.

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Crude Oil: Weekly Chart Update

So far I’m going to stick with Cycle degree wave 4 as completed.

I have to be open to the idea that another big zigzag in Primary degree might happen, so this 5 wave sequence would end at another “A” wave in Primary degree.

Early this morning crude oil spiked and has started to dip again, and may still head to the $50 price range.

The Gold/Oil ratio is 26.8 which is more expensive than the August readings and this ratio should expand a bit more in September.

Any move that would take oil below the $45 price level might force another complete review.

Don’t expect some beautiful impulse move as we are in a diagonal world where wave structures do overlap and can even look like they are going sideways.

Switching from bar type to line type also changes the wave counts as many spikes get smoothed out in the process.

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