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I see some important indicators converging
next week for a possible change in trend for the
US Stock Market via the S&P 500.
1.Jupiter will change signs which it only does
every 11 months when it enters Cancer on 7/12.
2. S&P cash 1169 is a .618 retracement of the
March to May rally. 1169 = 29 Gemini which is where Jupiter will be until it
reaches zero Cancer (90 degrees = 1170) on 7/12.
3. Jupiter in Cancer should be friendly to the US,
born on the 4th of July and with several Crab planets.
4. My sentiment indicator, as of Friday's
close, entered bullish territory for the first time in several weeks, indicating
the probability for a low in 1-2 trading days.
5. Even given the bearish case, if we stop at 1169
area, I can see five waves down and should at least get a very good bounce.
Please see chart below.
6. If SPX goes much more than $5 under 1169, time
to throw in the bull horns, and go back to the barn. On the other hand, I
have cycles indicating that the Greenpan bail out should soon start having a
positive effect on the US economy and markets until late summer.
7. Bottomline, I see the next few trading days as a
"do or die" situation for the S&P 500 and probabaly the US stock market.
Cheers,
Norman Winski
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