This is a Red Alert - meaning sell/short stocks. I issued my first Green Alert - meaning buy/long stocks on 3/23/18 when the SPX was at 2588 or 418 points lower than where it closed today 9/18/19 SPX 3006. After a brief Yellow Alert - Hold was issued in May 2019 a second Green Alert was made on 6/9/19 with SPX at 2873 or 133 points lower than on 9/18/19.
Reason for the Red Alert 1) Seasonally bearish time zone September to October.
2) SPX makes double top on 9/12/19 two days before full Moon on Saturday 9/14/19
3) RUT and DJTA hit daily declining trendlines on 9/13/19. If needed future post will give more details about these indices.
4) RUT and DJTA were out performing SPX two weeks prior to 9/12/19 peak - now RUT and DJTA under performing SPX.
5) Stochastic has bearish rollover from overbought zone.
There are several alternate Elliott wave counts - currently none of them have a high probability. Therefore, for now I have two downside targets.
I do not believe the long term bull market that started in March 2009 is complete and strongly believe if there's a decline September to October it is probably just a correction within that bull market.
Long and short term Elliott wave counts will be posted after the picture clears up.
Sell and go short stocks -NOW!
Mark
Reason for the Red Alert 1) Seasonally bearish time zone September to October.
2) SPX makes double top on 9/12/19 two days before full Moon on Saturday 9/14/19
3) RUT and DJTA hit daily declining trendlines on 9/13/19. If needed future post will give more details about these indices.
4) RUT and DJTA were out performing SPX two weeks prior to 9/12/19 peak - now RUT and DJTA under performing SPX.
5) Stochastic has bearish rollover from overbought zone.
There are several alternate Elliott wave counts - currently none of them have a high probability. Therefore, for now I have two downside targets.
I do not believe the long term bull market that started in March 2009 is complete and strongly believe if there's a decline September to October it is probably just a correction within that bull market.
Long and short term Elliott wave counts will be posted after the picture clears up.
Sell and go short stocks -NOW!
Mark
