The image above shows the plan from Friday at the close. We held the weekly bear(light pink) and rocketed up for a few days into today Monday today. Now we are testing a day bull on a daily turn point and have a possible 2 to 3 days down as Tuesday is a direction change. (Note: There is possible cycle inversion which will continue upward move for the next 2 to 3 days) But let’s see… if market re-balances itself.
3800 Day Bull (Yellow) – Not elected on todays Turn Point with Direct Change (High??)
Tuesday direction change may head lower into Wednesday.
Weekly Looks Choppy
Since this week is direction change, we could get a high and then turn down next week. Finally a panic cycle on Nov 7th. Statistically on cycles 21 trading days into October has shown for a good long position. This would be Nov 1st, which we will have to see how things pan out.
3913.70 Weekly Bull
3800 Day Bull (Yellow) Tested today, No election
Chop–
Chop–
3647.47 Week Bear (Pink – bounced from Friday)
3588.20 Quarter Bull (Light Purple)
Moving Into End of October
Since we have a bond crisis, big money around the world will be looking for safety getting out of Europe, Ukraine, and where there is war. US equity market will be the last one standing, so capital will move towards the US equity market. Possibly we will see that come into play. As stated during the crash and bounce, I am continue to look for that January or quarter of 2023 low moving higher into 2028 as capital flee’s from the war and bonds into equities, commodities, energy, and gold/silver.
Slowly, adding to oversold equities with high dividends returns. Today is too high to add, but may get a pull back in the market this week. Let’s see…