Most of the major stock market indexes appear to working on the final subdivisions of ending diagonal triangles. It is quite common for the 5th wave of an ending diagonal to overthrow the upper channel line, which is what I expect for tomorrow. It will be hailed as a victory for the stock market and bull market proponents just in time for a sharp selloff at the beginning of October. A pop followed by a sharp drop.
See Terry Laundry's mid-week update at http://www.ttheoryfoundation.org/t-theory-calculations.html. He discusses the impending market turn based on T Theory and another possible rally attempt into the second week of November.
My personal view is that the current surge into the end of the month of September represents a mid-term election year cycle inversion that will lead to selling for the rest of year, and the possible rally into the second week of November should be a lower high. Under normal circumstances markets would have sold off in September into early October and then would have rallied the rest of the year, but the generals have likely already spent their ammunition.
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1 comment:
elections do matter but economy is what decides the fate of market. other things are just supplementary. but sentiments do play their role in market price on some certain day.
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