Yesterdays Dow close below 7900 brings back the first scenario basically that we topped out wave C around full moon but only a confirmation of the SPX close below 800 especially on a weekly basis would activate imminent sell out. The BKX needs definitely closure and will be dragging down until we closed below 25. In a bigger picture we need to come down and test the lows and even make new ones that kind of inevitable. The fundamental valuation of stocks is definitely to high for a long term investor depending on the earnings but 60 Dollar including the stimulus package is a good guess hence SPX at 500 is a value point anything else is a pure trading approach. Astrology which I do study for almost 20 years and on markets rather for 5 gives some valuable value added. The very positive time frame for the next 2 weeks starting on the WE makes me cautious on follow through selling right now. On the other hand the Lunar eclipse on Monday was exactelt opposite Chiron and Neptun that's a rare a strange combination. It definitely brings floods rain/snow storms the Chiron factor makes it harder to capture as it is the healer who can not heal himself hence Geithners plan is poised not to bring the promised results ( which I doubt anyway as the banks need at least 5 tril. but rather around 10 tril. on a global scale to catch up with recent implosions on their 'real' balance sheets. Imagine only Citibank had toxic assets in the magnitude of around 1 tril - just one bank.
Coming back to the tech picture we are in the second green count down in week 5 confirming downside momentum. Its only a matter of time that we test the lows of Nov. in Q1.
No comments:
Post a Comment