with Anthony, ZigZag & Platy
I have alignment on the INDU pointing to a possible low today, and the correlation chart has a low coming in today or tomorrow.
Posted by ZigZag.
ZigZag can you make an update soon with new graphs ?
whats your though for next week, again great cal;
The cycle has a peak on the 9th and a low around the end of August. My guess is down next week, but we have to remember that August is normally a positive month in a 4th year Presidential cycle, so I’m just waiting for the end of August before adding more to longs.
Steven i could well be wrong here ill know more on Monday, ive been flip flopping all day with my idea for a high. If we pull back a bit then higher in 07/08 ill short, but like ZigZag said the trend remains up.
ZZ, Anthony change his forecast a little, will you update your forecast?
The correlation chart is close to a peak and the short term cycles converge on Aug 9th. Price should reverse when we hit Aug 9th. My best guess is it will be a peak around Aug 9th, but I doubt we sell off very much after it hits. August is normally the strongest month in 4th year Presidential Cycles for the SPX. I don’t think we see a major high until we get closer to the election.
Right now, I’m just waiting to see what happens next week before deciding to add more to long positions.
Does anyone see in their analysis a sharp drop into August 1-3 in the SPX?
No, I see a drop today. 🙂
Next Low SPX 1338, then we grind to 1400 around August 7-9th.
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ZZ, what do you see for next week, do you think we continue up for a couple more days? Thanks
We definitely have the momentum for a couple more days up with possibly a pause after Aug 1-2. We will likely see another strong move up into Aug 9th.
Hi Anthony and ZZ
wondering if you guys have a target for the reverse low?
I just posted this above to Karen. It could be the next low date before a final push to Aug 9th. Just something to keep an eye on.
Karen, I was looking at some things this morning and I did find something that might align with Aug 1-3. I don’t know if it will be a high or a low.
ZZ, thanks, looks like a ramp job today…VIX not buyin’ it.. Don’t know if we will see lower lows now on SPX and DJI, but looks like we could see a swift sell-off or huge gap down next week, seems it all happens overnight…. I still see RUT with lower lows and lower highs so far…in downtrend channel…
FXE backtesting 122.19 support/resistance line, we will see next week if this holds….
Thanks for your work….and Anthony as well, glad I found this site…. :))
impressive ZigZag and Anthony! There’s a simple bar count that puts the .618 extension of the last wave down at a top today 12:30 to 13:00. Maybe a good place for a pullback to the up trendline.
Previous QLD wave = 49 30 min bars. Bar 30 (49 x .618) “coincided” with a big break to the upside. I look at the .618 (1.618, etc) bars with a sense that something significant will happen there (a decisive time). Next cit would be at the 49th bar (49 x 1) which arrives at the close on Monday.
If you’re a swing trader it’s probably a good spot to take some profits.
Pretty darn good run since hitting that Tuesday low cycle, no? 🙂
i’m in XIV and SSO, do you think i should take half off both today?
I usually will take off 20-30% just in case I can get in somewhere lower again. I haven’t taken any profits at all since the lows of last October. All I’m doing is trying to find the best areas where I can add to positions.
If its going to pullback now would be the time 1374-1375 90 deg from 1329 low.
Somebody here will be on the wrong side of the trade 🙂
I’m seeing this rally fizzle out fairly soon so I’m just holding on to my guns or rather shorts.
Im still thinking we’ll get our spike low in the next couple of days.
It’s looking like Aug 9th will be the date to watch. Cycle hits at key highs and lows all converge on Aug 9th. Price heading into this date will likely reverse.
I see that date as a possible high, but do you see a lower low possibly around Aug 1-3 first? We’d have to start to turn by tomorrow or Monday…
It’s possible that we could come back and test that cycle low on the 24th. I can’t find anything that aligns with Aug 1-3, but that doesn’t mean it can’t happen.
EUR/USD bounced off of a trend line going back to 2005 and TLT looks like it’s ready to come back down.
Updated cycle charts
ZigZag Thanks for your reply what was the name of the blog you started yourself?
It’s still a work in progress. Heck, I haven’t even updated it yet. I wasn’t kidding when I said I like it here better 🙂
That is interesting as that were the original readings from last week. however, since we put in a significant low from the july 19th drop, do you think the cycle has inverted so that we rally from here to the begining of august?
ps. welcome on board ZZ. i will be following your postings with interest.
I dont think so. ZigZags work was looking for a low around 24/25 July and has been very accurate in the past. As readers will know though cycles have a tendency to invert during OPEX weeks. Having said that ZZs work in my opinion should we get a low around 30 July still be accurate for a high into 02-09 August as he pointed out in his correlation chart.
In terms of my time cycles weve just been through a large inversion i doubt we’ll get another one for a while.
On the trading front ive updated the News Cycle and the Astro Cycle, both are pointing to lower prices into 30 July.
Where can I see the updated chart Anthony?
Ill post it shortly on my prior blog entry.
Just to clarify – the low is no longer expected today but is now Monday?
Hello ZZ, where did you used to post before?
I used to post quite a bit over on the Cyclical Market Analysis blog. Before that, I was posting at Trading To Win. I started my own blog a month ago and Anthony invited me to be a contributor here. I must say, I actually like it here better 🙂
ZZ not many pitchforks here :). Make yourself comfortable…..
ZZ, what your target for this next move up? Thanks
Hard to say. I’m not very good on price as I mostly follow time. As long as this low cycle holds I’m guessing we could go above the July 19th high, possibly higher.
With all do respect, I still don’t see any panic selling to mark a low. I believe we’ll need to see some form of capitulation to get a sustainable bottom, no?
Anything is possible Rezito. I try to find dates that give me the best odds of a reversal and there’s always the chance that we invert and that second week of August becomes a low. I still believe we’ll see new highs before the elections.
Hello Antony and ZZ, and ZZ I am happy to see you here too, thanks for sharing your valuable info 🙂
GREAT JOB by ZZ
Thank you so much!!
Sorry ZZ, I just looked at your chart further and saw your August dates, but what do you see for July 31/Aug1st?
Karen from my perspective there is the possiblity that the 31 August could be a high leading to an inversion and a resulting 6-8 August low. It all depends on how the rest of this week plays out. Price wise we have not broken the 1324 key support.
You don’t see a bounce this week and then more selling into July 31/Aug 1? That time period could be very negative astrologically. Then there is a another turn around Aug 9 +/- 3 days (Aug 10-16) where we could turn down into end of Aug 24-27th.. Is this something you see on your charts? I’m looking at it from an astro and cycle point of view….
I have seend ZZ blog/comments at another blog, gd to see ZZ here as his timing cycle is unique.
Hi ZZ and Anthony,
What is your expectations for Gold and Silver?
Do you have any price target and time projection for ST and MT?
Great post ZZ.
Im in agreement. My AstroCycle is certainly calling for a low today tomorrow.
ZZ, when we put a low either today or tomorrow, how long will up trend last and what is your target for the SPX for the next move higher. Thx
Right now, I still think it’s likely that we’ll see new highs by September or nearer to the election. I’m not sure on price, but perhaps it will resemble something similar to the correlation chart.
What a great addition to your blog. Thanks!
Zig, welcome to this site. If others dont know who you are they soon will. Look forward to following your work along with Anthony T’s excellent work.
ZigZag is a specialist with time symmetry. He has an eye for it so for me it was a no brainer after reading his analysis over a number of months.
Zig zag do you have a target area for the low tomorrow? Tia
I must warn you that I am horrible at daily price targets. My best guess is they will keep it above 12,400
In light of Apple earnings miss, does this change anything?
It could be off by a day due to the Apple earnings miss. Sentimentrader posted this interesting stat this evening.
sentimentrader: There were 8 times $AAPL gapped > -5% after earnings. Impact on the broader mkt in days/weeks ahead was…exactly same as random.
Zig zag – by that do you mean it had no effect?
I believe he means it was basically a coin flip on where the market went next.
I haven’t looked at it on the chart yet, but these are dates when it happened.
Apple stock is getting hit hard after missing its earnings estimates. Over the past 15 years, there have been 8 times AAPL opened at least -5% the morning after an earnings release. Performance in the broader market in the days/weeks ahead was in line with random. For those curious, the dates were 10/16/97, 7/18/01, 7/17/02, 1/15/04, 4/14/05, 10/12/05, 1/23/08 and 7/22/08.
Welcome to this blog ZigZag.
This seems to be a bit contrary to Anthony’s post yesterday of the low being reached Friday into Monday. It’s only a few days but a few days can make a significant difference for day traders.
The cycles are all +/- a day. I rarely day trade and I’m only interested in picking areas to add to positions from the cycle low last October. I probably should have mentioned that I don’t day trade in the title of the post.
Hi Tesko yes you are correct on 1 count. The News Cycle says Friday to Monday the Astro Cycle says 25 +/- 1 day.
Whats interesting is that the Gann price level has almost been activated at 1324.
Hey ZZ, when are you expecting a new high on the SPX?
I believe we will see new highs around that late September date. It’s possible it stretches further out until the election.
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