30 Sept 2015 - End Of Month Look

Well we finally ended the month and now comes Oct. where Mr. Armstrong has predicted in his economic model that we should start at turn lower.  However this is economics not market, so we shall see if they both reflect the same sentiments. You can read more of it HERE.

The monthly charts has closed with a red bar with a non-reversal candle.  The indicators are still bearishly cautious, meaning that we are bearish but that we should keep cautious for a possible turn up.  If this should happen, the market would then be bullish again with a strong bias.  The indicator should come out of OB for the SPX to become overtly bearish on a monthly scale, but since its still in OB, there is still a chance that any turn-a-round could abruptly turn the markets bullish.

In these cases, we are at that stage where we are standing on a thin line and we should get an answer sooner than later on whether this current draw down is in fact as real a bear market it is.  There are still many who think this is just a correction, and there are arguments to be made to support this idea, but I based my analysis on my indicators that tells me this is a bear market,  however we should be open to both possibilities at all times and should never be complacent.

SEN: Bearish
ST: DOWN
PA: DOWN