A Tactical weakness remains due into DATES FOR MEMBERS ONLY and/or DATES FOR MEMBERS ONLY.
The 6/22 High was an intermediate term High. A new Equity Trend is underway.A Tactical weakness remains due into DATES FOR MEMBERS ONLY and/orDATES FOR MEMBERS ONLY.
Global Equity Chaos may produce unusual moves which I allowed could happen.
Some Client Questions and some Answers. Don’t be surprised by recent Big Ranges. The Market has Changed. When I talked about the “Endgame” that was in reference to the Distribution Range which I had identified this Spring and early Summer. That ended with the 6/22 High. Thus, that was the “End of the Endgame.” Now stocks are in a new Trend. I have not given the timing for the “Black Hole” which would typically be the final phase of a decline. Yes, there was some discussion ofDATES FOR MEMBERS ONLY which we are now in but I did infer and continue to project that it is not close at hand and could even last into DATES FOR MEMBERS ONLY. It is not anything to worry about for now. This is only the beginning of the trend. Yes, if markets get very weak and jittery over the next week or two, a Capitulation of some degree could occur. In fact, it likely will and would set up the DATES FOR MEMBERS ONLY recovery.
Repeat: “The Market has Changed!” In my experience, Investors are generally slow to grasp CHANGE and end up wondering months later why they did not act. A larger degree of Correction appears to be unfolding. These sorts of viral declines typically culminate with a Price Capitulation. A “Black Hole” is not dueDATES FOR MEMBERS ONLY. As I said: Greece is, “Only a metaphor for Vulnerability.” Now, Shanghai is being Recognized and maybe the United Sates? Everything is connected. As usual, expect Pundits to be Denial. Keep it simple: The Trend has Changed. As always, “Maintain a flexible Trading Mind.”
MARKET ENERGY: As I noted: “Don’t be complacent. This Big Break has ushered in a much more volatile Market Energy.” So, don’t be surprised by this or any downside. This is an unusually agitated market. Let’s see if it can become really excited into DATES FOR MEMBERS ONLY.
MARKET TIMING: “The 6/22 High is significant.” The profile remains for a tactical Low due nearDATES FOR MEMBERS ONLY or possiblyDATES FOR MEMBERS ONLY. There will eventually be a Recovery into at least DATES FOR MEMBERS ONLY, before more downside. As I allowed, “The specific pattern for weakness on 7/6” manifested with a wonderful overnight plunge on the Greek vote. Again, the “Market has Changed.” The Trend is down and Buying Breaks or Dips is not warranted.
Resistance Levels MEMBERS ONLY
Support Levels MEMBERS ONLY
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