cobran20

Martin Armstrong's Economic Writings

3981 posts in this topic

good question, will dig for some Reversals which will confirm direction.

EDIT: " In the Cash S&P500, a weekly closing back below the 282500 level will warn of a correction perhaps into October.  "

" In the NASDAQ, a month-end close today below 744300 would signal a collapse is likely into November. We need a closing today ABOVE 763730 to imply the market can possibly hold. A failure to close above that number will also imply that we can crash into November. "  with "TODAY" marty means monthly close of august for nasdaq

 

Gold elected the monthly major bearish, but its the benchmarks again (like in december2015) so maby there will be no follow trough, but nonetheless the major bearish monthly reversal got elected a day ago! Very bad.

Marty says:"  We can see that gold continues to consolidate. The Monthly Bearish is down at 1194 "  socrates says, january is (again) a big turnpoint

The Monthly Bullish Reversal  stands up at 1271 and 1362.50

 

 

The german DAX has a good turnpoint in October

The EUR / USD has a good turnpoint in January2019

Edited by Swaize

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6 hours ago, Swaize said:

good question, will dig for some Reversals which will confirm direction.

EDIT: " In the Cash S&P500, a weekly closing back below the 282500 level will warn of a correction perhaps into October.  "

" In the NASDAQ, a month-end close today below 744300 would signal a collapse is likely into November. We need a closing today ABOVE 763730 to imply the market can possibly hold. A failure to close above that number will also imply that we can crash into November. "  with "TODAY" marty means monthly close of august for nasdaq

 

Gold elected the monthly major bearish, but its the benchmarks again (like in december2015) so maby there will be no follow trough, but nonetheless the major bearish monthly reversal got elected a day ago! Very bad.

Marty says:"  We can see that gold continues to consolidate. The Monthly Bearish is down at 1194 "  socrates says, january is (again) a big turnpoint

The Monthly Bullish Reversal  stands up at 1271 and 1362.50

 

 

The german DAX has a good turnpoint in October

The EUR / USD has a good turnpoint in January2019

I'd read that as the US markets turning down into October/November.

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17 hours ago, Swaize said:

marty still thinks, this will be a runaway bullmarket, no new lows.

Which low - the one at the end of last month in the Dow?

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You can watch those numbers to see when the action starts:

Netflix:

First of all, let me say, there are still bugs in Socrates:  today it shows a ridiculous number for the japanese yen. And on netflix there is also one mistake in numbers, where it says 0,29% up in 4 weeks is a phenomenal rise :huh:

The globalmarket watch said october important low, for netflix

a year-end closing below 19196 would suggest that a correction into the next target due 2021 becomes possible. 

 our technical resistance stands at 32468 and it will require a closing above this level to signal a breakout of the upside is unfolding. Relying on our Reversal System, our next Weekly Bullish Reversal to watch stands at 40337 while the Weekly Bearish Reversal lies at 29261. This provides a 27% trading range. Turning to the broader Monthly level, the current Bullish Reversal stands at 42322 while the Bearish Reversal lies at 23610. This, of course, gives us a broader trading range of a 44%. Immediately, we closed the last session trading at the 31084, which is below this level on a daily closing basis at this moment. We need to close above this on a weekly basis to signal a rally is unfolding. 

A possible change in trend appears due come January 2019 in NetFlix Inc so be focused. The last cyclical event was a low established back during October.

Critical support still underlies this market at 23610 and a break of that level on a monthly closing basis would warn that a sustainable decline ahead becomes possible

Want more?

 

NASDAQ Index:

our next Weekly Bullish Reversal to watch stands at 927394 while the Weekly Bearish Reversal lies at 708482

 Monthly level, the current Bullish Reversal stands at 744200 while the Bearish Reversal lies at 680595.

(( another huuuge mistake:   Eyeing the direction of this trend, we had been moving down for-2482 weeks  ))

monthly market watch says, preparing for breakout for this month.....

 

Dow:

We do see this year as a possible turning point so how we close will be important. The subsequent target for a turning point will be 2022. At this time, the market is trading above last year's close of 2471922 which is bullish

Our projected resistance stands above the market at 2590679 and a closing above that is necessary to signal any strong further upside advance. Looking at our Reversal System, our next Weekly Bullish Reversal to watch stands at 2990642 while the Weekly Bearish Reversal lies at 2410123. This provides a 19% trading range. Turning to the broader Monthly level, the current Bullish Reversal stands at 2661672 while the Bearish Reversal lies at 2399720. This, of course, gives us a narrower trading range of a 9.84%

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