Possible Significant Top in DOW

[SteveS]

The DOW today technically put on an outside day daily reversal, and precisely on a W.D. seasonal Sun Date Aug 8. This could turn out to be very important for a possible significant top in the DOW. Whenever I see a daily reversal on a Gann Sun Date, I want to then see a weekly reversal, and then a monthly reversal—for confirmation a significant top has occurred. For a weekly reversal, the DOW will have to close below 22,092 by close this Friday. The DOW today closed at 22,085. I will later try to post Gann’s Square of Four Chart showing the seasonal Sun Dates, and I know for a fact (lots of historical daily research) the DOW pivots off these Sun Dates for significant tops and bottoms.
Put your cursor on the price bar Aug 8 (Top). Will be very interesting to watch this Aug 8 date for possible significant top.
https://www.barchart.com/stocks/quotes/ ... tive-chart

[Jim Eshelman]

That would be a really big surprise, so I think it's going to correct.

We have a primarily Jupiter Year chart (albeit with Uranus for flux), a primarily Jupiter Quarter chart (albeit with Pluto for shockers), and a Venus-Jupiter Month and Quarter chart. We just left four days of Jupiter on quotidian angles (which may have driven a day or two extra-high, so that today is a normalization of a trend).

These are full-grown Bull aspects. Please do not feed the Bears <vbg>.

PS - I meant to tell you, among old school financial astrologers, Ray Merriman said this week to hold fast to the bull's horns as he keeps charging ahead, while Henry Weingarten said sell everything August 5 and wait until late October when conditions reverse. What I can say! <g>

[SteveS]

Tops occur under Jupiter psychology and bottoms Saturn psychology.

[Jim Eshelman]

But the top is also the start of the drop.

[Jupiter Sets at Dawn]

But the top is also the start of the drop.

I think sometimes it's the start of the gentle slide though. The drop doesn't have to be precipitous.
Is that right, Steve?

Now if the House can't pass the debt ceiling adjustment next month...

[SteveS]

JSAD wrote & asked:

I think sometimes it's the start of the gentle slide though. The drop doesn't have to be precipitous. Is that right, Steve?

Exactly JSAD, we do not necessarily have to see a 'precipitous drop' now.
JSAD wrote:

Now if the House can't pass the debt ceiling adjustment next month...

Could very well be what the market is seeing JSAD. I find it most interesting this Gann signal came a day after the Lunar Eclipse and we got the Total Solar Eclipse coming-up. The market is way over due for at least a 10-20% correction. As a personal side interest, I am also monitoring the 15 Taurus Chart: http://imgur.com/a/uUqi9
This is a most malefic chart. And note: Aug 24 t. Saturn stations partile cnj DC’s 15 Taurus MC, and actually is now partile cnj this MC for about a month. I want to see how much Saturn damage is done to the DC political scene and the DOW during this one-month t. Saturn to DC’s 15 Taurus MC. If this Aug 8 turns out to mark a top, I think the 2018 Capsolar with the tight MO-ME-SA cnj with t. Saturn hitting Cap MO-ME practically all of 2018 could do some serious damage to the market. But, first I want to see a strong weekly reversal by close Friday to maybe confirm a technical Top.

[Jim Eshelman]

The plunge rolled a solid downward day, opening low and staying low with about a 50 point drop. The rest of the week will be interesting, to say the least.

Fire & Fury: A female rock band? New pepper sauce? Or just the latest incarnation of, "Shock & Aw Shucks"?

[SteveS]

Jim wrote:

The rest of the week will be interesting, to say the least.

Yes, will be interesting to me if we see a weekly reversal on the weekly charts. So far, its been a hell of bull market, and this is the first signal I have seen for a possible top. Time will tell.

[Jim Eshelman]

And today opened over 100 more down.

[Jim Eshelman]

Abd ended more than 200 down.

[SteveS]

Gann’s Square of Four Chart:
Note on the 135 degree angle the Date Aug 8 (top upper left). Click outside chart to enlarge.
http://imgur.com/a/RTXjl

[Jim Eshelman]

The market started up a bit today, and it's trying; but unless the DJIA gains more than 200 points more (210 above where it is at the slightly raised level at the moment), it's going to be down (flipped) for the week. It seems quite unlikely it is going to rally another 200+ points today.

[SteveS]

Weekly reversal confirmed by Friday's close for possible significant Top on Gann's Sun Date Aug 8. To negate this Top- DOW prices will have to close above 22,179 (the high for Aug 8) on the weekly charts (last trading day of a week). A close below 21,891 the last trading day of Aug will confirm a monthly reversal.

[SteveS]

"I would expect it (financial crisis) to start this year or the next...and it's going to be the worst in your lifetime and my lifetime." Jim Rogers
http://www.msn.com/en-us/money/markets/ ... li=BBnb7Kz

Let's see if this Aug 8 Top turns out to be a significant top before Jim Roger's financial meltdown forecast for latter this year or next year.

[Jim Eshelman]

After playing at recovery for a couple of days, the Dow today lost 274 points. It wiped out, just today, any small recovery gains, is thus far down for the last week (and, without a strong recovery, will be again down for the week tomorrow), and is presently more than 200 points below August 1.

[Jim Eshelman]

The Dow ended up 271 down for the week. We still have time to go in the month, but it does look (so far) that Steve's catch of this as a top may have been quite right.

[Jim Eshelman]

Well, if tomorrow's a good day, the DHIA will cross above August 1 (it's close but no stuffed panda so far).

If not - it it's down or mostly even tomorrow - then the month is flipped.

[Jim Eshelman]

Steve gave 21,891 as the value the Dow has to close under for all the pegs to fall into place. (That was the closing price July 31, so the technical starting point for August.)

It's going to be a horse race. It's close. The market shot up over 90 points in the first half hour this morning, then has been swooping down and could swoop back up. At the moment, it's at 21,938, just a little over. I suspect it will close above the line, but it could easily go either way today.

[Jupiter Sets at Dawn]

Oil prices are going up because of the floods in Texas and Louisiana, where most refineries are, but the Fed is releasing oil reserves to try to put a brake on that.

Of course it's gasoline that's going to be in short supply, and prices on that are already going UP at the pump.

[SteveS]

Jim wrote:

Well, if tomorrow's a good day, the DHIA will cross above August 1 (it's close but no stuffed panda so far). If not - it it's down or mostly even tomorrow - then the month is flipped.

Yes, no monthly reversal was made on the monthly DOW Bar Charts, which is technically good for the Bulls. Looks like the market wants to test the Aug 8th all-time high at 22,179. If the market closes above 22,179, only using the weekly Bar Chart for a Friday’s close, the possible Aug 8th Gann Cycle Top will be negated, using Gann’s Square of Four Chart for cycle tops & bottoms. It looks like the market is waiting for some major news to move it up or down. Market research, traditionally, favors bearish trends for the months of Sept & Oct, particularly Oct. Time will soon tell.

[Jim Eshelman]

Yes, September and October have an unusual concentration of financial crises.

BTW, glad to see you - I was about ready to write and see how you were doing. Did you guys get the tornado herd that was moving through Alabama?

[SteveS]

Jim asked:

Did you guys get the tornado herd that was moving through Alabama?

We had some Tornado Watches and some intermediate rain, but no major problems.

[SteveS]

Technically speaking, it appears (early this morning) the DOW will close over 22,179 on the weekly chart--new all-time weekly highs, which will negate Gann's Aug 8 cycle top for a significant correction in the market. This Bull Market is a very unique Bull Market, historically speaking, and continues to march to new all time highs.