SP 500 Update
As most of our blog readers already know by recent posts, we are currently forecasting a soon to be change in trend (CIT) for the SP500 Index (and simultaneously for other global indices), while also attempting to zero in on the exact date for a top.
Although our calculated dates for the final Elliott Wave Three peak range over seven trading days, from October 29, - November 08, 2010, at present we are still focused and planning this Friday (October 29, 2010) for a potential peak EW 3 top, - also known as our plan A.
However, in recent trading sessions the SP500 Index has refused to rally, and has come-up short of our forecast double-top cycle price target. This is one of our forensic clues of a cycle inversion.
As a result, by necessity we introduced the cycle inversion topic in our blog (also called Elliott Wave extension) and a plan B strategy (see Plan B blog and related).
We will update as time permits and as needed over the next few days, but frankly, we are already pushing out slightly the date for the peak price to occur. Essentially, we are saying that the earliest the peak can arrive is this Friday.
For our Friday October 29, 2010 plan A to hold up, we must see a final couple of strong up days on the SP500 beginning tomorrow, otherwise, we believe a cycle inversion will slowly push-out the final peak by another 1 - 6 days.
Notice that we cannot intelligently remove our bearish CIT alert. The next wave four down could be significant.
For now, the good news is the uptrend that we first successfully forecast on September 01, 2010 is still intact, as can be seen by the late-day rally today (possible PPT) and mathematically, using intelligent technical analysis, by the respect for the 21 day moving average (see chart).
In the meantime, we suggest using your favorite moving averages, or some other form of mechanical stop. For instance, the 21 day simple moving average as shown in the chart, is now just 15 points below the SP 500 closing price today, and yet makes a very effective stop.
Golden Astrology
Following yesterday's post on Financial Astrology, Cycles, and W.D. Gann theory, we wanted to encourage those whom find this topic interesting, to further delve into this esoteric topic in more detail. Naturally, the best way to do this would be to attend our KRTT formal training or subscribe to our E-Learning Products.
So tonight, we have included in this Astro Part Two - a real time forecast for gold using the same follow on to financial astrology.
Last night in our astro-finance blog topic, we recommended reading and following our Blog Editorial on Gold (October 09, 2010) which featured an insight into one method or approach of KRTT financial astrology as being applied to Gold.
Essentially in our October 09, 2010 blog feature on gold, KRTT suggested in advance of the dates, that we should become bearish on gold - at least until the Zodiac sign of Scorpio passes. Given the past long uptrend in Gold, we had identified and pointed out how the Zodiac of Scorpio can upset trends in the precious metal.
So far, our feature editorial on gold has indeed been accurate, and gold has not only halted the past uptrend, but recently it has weakened considerably as we suggested and forecast it would.
So, when might gold bottom in the short-term using a similar Astrological approach?
Tonight we have included the Astro Sky chart for November 22, 2010 - more than three weeks from now. This future date also closely approximates to the end of the Scorpio Zodiac in 2010. There is also a full moon - another astrological event of change on November 21, 2010.
Can you notice in our Astro-Sky graphic as shown - the abundance of square or 90 degree angles in the Astro-Sky?
In Astrology, such harsh 90 degree angles are considered negative. One must remember that past bearish trends will end at the peak of bearishness.
Although Gann angles are a very common technical analysis term, in astrology or astro-finance, angles are invariably called aspects, so technically, using proper astrological terminology; a 90 degree angle is termed or labeled a malefic (bearish) aspect.
So essentially, by simply looking out at the astro-sky set-ups in advance, and using this seemingly negative Astro-Finance chart of November 22, 2010, one could conclude or surmise that it may be close to a peak and near ideal bearish low in gold as being made (in the short-term).
In summary after November 22, 2010 gold could start to rally.
For learning and financial education sake in our cyberspace classroom, we thus herein go on record, to suggest and forecast that gold may make a short-term trend low and reverse the trend (to up) around November 22, 2010.
We will keep you posted on our golden astro-finance lessons as time permits.
Remember in making this forecast, we are solely using Astro Finance and applying it by viewing a negative astro-sky with harsh 90 degree angles or as we termed it - malefic aspects.
KRTT and this BBTL Blog do not recommend making real-money trading or financial decisions, by solely using the Astro-Finance topic in any form, no matter how good or how logical an analysis may appear. That however does not imply Astro-finance should not be used.
Virtually savvy students of advanced W.D. Gann theory - as taught by KRTT, will invariably wish to use and apply on a regular basis such astro-finance techniques - as an additional form of trend confirmation or possible change.
See the Astro-Sky chart of November 22, 2010 below and watch for a Golden Trend Change around the time of November 22, 2010.
Sincerely,
James Kelly Sr.,
Editor in Chief, BBTL Blog
www.KRTT.com
www.Facebook.com/KRTTcom
www.twitter.com/KRTTcom
*** Although KRTT discussed Astro-Finance and Astrology in our blog today and as first introduced by W.D. Gann over one hundred years ago, and in that we teach detailed Astro-Finance and Astro-cycles to our clients, we do not profess to be Astrologers. Nor do we endorse or use Astro-finance as a stand-alone method to trading or investing.
We do however strongly endorse and teach all Natural Law theory, including Astro-finance as an extremely valuable method of market confirmation.
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