Coming Aug 29th: Black Monday or Bounce Monday?

Told you it would be a flat day, as flat as an ironboard. This is what the market does nowadays. It's a huge move (relatively) and then it takes a breather the next day. It rarely has two huge-move days back-to-back.

 

Yep. and the algo's have to let the dust settle and reposition for the next move to take the most money from the naive, ie.... 64% of the players near term.
Long term,17% more when that dust settles.

 

I was surprised by the Euro reaction. I thought it would collapse thru 0.9900 but it was actually higher, however the Yen got to 139 so it did collapse.

It's just a matter of time before the Euro & British Pound collapse and that will likely send markets in a tailspin.

 

see how strong Indian market / Nifty futures is.

26 Aug - very long red candlestick
30 Aug -very long up candlestick

 

SP500 Analysis

According to my analysis the SP500 should correct upwards on Monday 29th August 2022, these was a reversal cycle on the 28th August 2022. This is the chart and price level I was looking for on the SP500.
My expectation is that that the next retrace will last for about 46 hours from the low made on Monday. At the moment it is too soon to calculate a price level but, as the SP500 comes into the time for the turn I will present a chart with the Gann arcs I created.

The fall on friday I nailed

 

The arcs are calculated using a method I devised based on Ganns square of nine. The arcs are only reactive around the time calculation.

 

That seems like gambling to me. Good to see you back in the saddle so soon. That was a quick "few months off"

 

Thanks, inverses were great last week, I bought on Friday too

 

Seems smart, but better hedge with some (mini Nasdaq) futures coming Monday. Because market could be fundamentally green Tuesday...

 

So, one week later we have the conclusion.

Monday wasn't the bloodbath everyone was expecting. Down 1.03 % at the LOD and closing down 0.67 % on the day.

The week as a whole closed down 3.29 %.

There doesn't seem to be much of a bid in this market and structurally this looks very much like a solid down trend still. If I were to guess, I'd say we're going lower still.