14 May 2013

This market is a perfect example of why you should not trade against the trend.  Yesterday and even Friday I mentioned that I am expecting a move down with the Short-Term trend on a down position.  We also said prior that the Main-Trend was still UP.  The last few days move produced a 25pt. run up on the SPX.  Our Short-Term Trend is just that... "Short-Term" and sometimes it becomes volatile and turn up immediately, just like today. 

That said, I feel we are close at hand and the markets are closing in on their FIBs and potential completion of wave counts.  Our monthly chart for the SPX looks very good for a monthly reversal pattern.  The bar has pierced the upper BB, and a reversal in the next two weeks will lead to a hanging man or shooting star pattern.  In which case, we would be looking for a few months of down trending moves.

Today marks a reactionary day by Olga Morales at Astrology for Gann.  We had a very impulsive move up.  Her next reaction date is on the 20th, which is what we are also anxiously looking forward to as well give or take a few days.  I would like for us to see a top this week though to produce a weekly reversal pattern.  My analysis dates May 14th as a reactionary day based on Jupiter 10deg. with the markets real bottom made on Oct 4, 1974.  May 16th has a potential to react so we should watch this closely as well.  It is no coincidence that we are starting to see clusters of dates this month along with an ever parabolic rise on the markets, and sentiments.  We are also seeing eclipses being very active this month.  I may be new to this, but if there are a lot of things happening then I would be on alert.

Mid-Term: UP
Short-Term: UP