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Note: The SPY has filled the gap at 543.71

A trend reversal was predicted for Aug 30th. Stock sold off sharply.

This week is a Marin Armstrong Panic Cycle week. Maybe he was off by a week. Last week certainly looked like a panic. Maybe there is more to come. See Chart below

IWM chart is showing a possible Head-and-Shoulders. Neckline is way down around 197.50

Many social media future forecasters are pointing to something big in the latter half of Sept. They say it will be a september to remember. We saw a similar consensus before the assassination attempt on trump.

 

PAST PERFORMANCE

 

NEWS

  • Bitcoin (BTC) Price Pumps, Then Dumps to $54K as Crypto Markets Tumble After Jobs Report (coindesk.com) Click Here
  • Ripple Co-Founder Chris Larsen Among Kamala Harris' New Corporate Endorsers (coindesk.com) Click Here
  • Bitcoin analyst sees 'biggest bull cycle' with $45K now BTC price floor (cointelegraph.com) Click Here
  • Street Calls of the Week: Nasdaq double upgraded, Bloom Energy cut By Investing.com Click Here
  • What is the 2025 outlook for the global economy? By Investing.com Click Here
  • Morning Bid: Bracing for heavy selloff By Reuters (investing.com) Click Here
  • "Can't Take It Anymore": Residents Of Springfield Ohio Beg For Help After 20,000 Haitians Overwhelm City, Eat Local Wildlife | ZeroHedge Click Here
  • Weekend News Round Up - Newsquawk Asia-Pac Market Open | ZeroHedge Click Here
  • Macy's Set To Close 55 Stores By The End Of 2024 | ZeroHedge Click Here
  • Bitcoin's Bull-Run Is Intact & Ahead Of Schedule | ZeroHedge Click Here
  • VIDEO: 70 years plus 7 months and 7 days from Donald Trumps birthday to the day he became President. 70 years and 7 months and 7 days from RFK Jr. birthdate to the day he came out in support of Trump. Greg Hunter interviews Bo Polny Click Here

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CLOSING PRICES

MAJOR
Symbol Last Chg. Chg. %
.DJI 40345.41 ($410.34) -1.01%
.DJT 15427.1 ($190.40) -1.22%
.NDX 18423.66 ($506.67) -2.68%
GBTC_OLD.PK 40.35 $0.00 0.00%
GLD 230.63 ($1.72) -0.74%
IWM 207.93 ($4.00) -1.89%
SLV 25.48 ($0.75) -2.86%
SPY 540.45 ($9.16) -1.67%
TLT.O 99.56 ($0.01) -0.01%
UNG 14.32 $0.14 0.99%
US500 5408.42 ($94.99) -1.73%
USO 68.93 ($0.96) -1.37%
UUP 28.18 $0.04 0.12%

SECTORS
Symbol Last Chg. Chg. %
RWR 104.18 ($0.24) -0.23%
XBI 96.46 ($1.62) -1.65%
XHB 112.22 $0.11 0.10%
XLB 89.89 ($1.15) -1.26%
XLE 86.01 ($1.09) -1.25%
XLF 44.29 ($0.66) -1.47%
XLI 125.89 ($1.29) -1.01%
XLK 203.99 ($5.36) -2.56%
XLP 82.98 ($0.18) -0.22%
XLU 75.91 ($0.73) -0.95%
XLV 153.95 ($0.53) -0.34%
XLY 182.4 ($4.73) -2.53%
XRT 72.52 ($1.25) -1.69%

CRYPTOS
Symbol Last Chg. Chg. %
ADA 0.3154 ($0.01) -2.96%
BAT 0.1528 ($0.01) -3.17%
BCH 295.1 ($12.50) -4.06%
BSV 44.6 ($0.94) -2.06%
BTC 54164 ($2,154.00) -3.82%
DGB 0.006149 $0.00 -1.77%
DOGE 0.072991 $0.00 0.34%
ETH 2228.97 ($143.94) -6.07%
ETN 0.003113 $0.00 0.00%
LTC 63.03 ($3.07) -4.64%
SHIB 0.00001282 $0.00 -2.81%
THETA 1.099 ($0.01) -0.72%
TRX 0.1479 $0.00 -1.27%
XLM 0.0939 $0.01 10.86%
XRP 0.5219 ($0.02) -4.13%

FOREX
Symbol Last Chg. Chg. %
AUD/CHF 0.5623 ($0.007) -1.16%
AUD/JPY 94.92 ($1.780) -1.84%
EUR/AUD 1.6619 $0.014 0.83%
EUR/CHF 0.9346 ($0.003) -0.33%
EUR/GBP 0.8442 $0.001 0.14%
EUR/USD 1.1085 ($0.003) -0.23%
GBP/AUD 1.9685 $0.013 0.68%
GBP/CHF 1.107 ($0.005) -0.49%
GBP/JPY 187.07 ($2.010) -1.06%
GBP/USD 1.3126 ($0.005) -0.37%
USD/CAD 1.3575 $0.007 0.53%
USD/CHF 0.843 ($0.001) -0.12%
USD/JPY 142.29 ($1.150) -0.80%
EUR/JPY 157.76 ($1.620) -1.02%
AUD/USD 0.6671 ($0.007) -1.03%



MARKET INSIGHTS

Oscar Carboni - September 3, 2024 Click Here

  • Market Reaction to Double Tops: "When we see a double top, we sell a double top." As observed with the double top noted last Friday, the market dropped significantly on Monday and continued to decline through Tuesday, even during the holiday. This pattern confirmed the anticipated downturn.
  • Factors Affecting Market Trends: Deflation, falling crude oil prices, decreasing interest rates, and lower raw material costs are likely to drive the market upwards. Despite political developments, market movements are influenced by these economic factors. Lower crude oil and raw materials, along with dropping interest rates, generally push financial markets higher.
  • Federal Reserve lower interest rates on September 18: Federal Reserve Chair Powell's promise to lower rates indicates that the market may rebound. 
  • Lowering interest rates stimulates economic activity by reducing borrowing costs. As rates go down, bond prices rise, signaling a potential bottoming out of the market. With raw materials and crude oil prices falling over the past year, and interest rates expected to decrease, these conditions collectively support a market rebound, though it may take some time to fully materialize.


TECHNICAL INDICATORS FOR THE PREVIOUS TRADING DAY.

Bullish TA
700259New 52-week Highs
109-48Strong Volume Gainers
22-7Bullish 50/200-day MA Crossovers
402140Bullish MACD Crossovers
2310Oversold with an Improving RSI
48478Moved Above Upper Bollinger Band
588174Moved Above Upper Price Channel
36953Moved Above Upper Keltner Channel
1704Improving Chaikin Money Flow
955503New CCI Buy Signals
718431Parabolic SAR Buy Signals
19910Stocks in a New Uptrend (Aroon)
12924Stocks in a New Uptrend (ADX)
13348Gap Ups
1413Breakaway Gap Ups
3313Runaway Gap Ups
1-3Island Bottoms
Bearish TA
160-143New 52-week Lows
44-47Strong Volume Decliners
21-5Bearish 50/200-day MA Crossovers
120-50Bearish MACD Crossovers
15-2Overbought with a Declining RSI
96-130Moved Below Lower Bollinger Band
130-183Moved Below Lower Price Channel
89-117Moved Below Lower Keltner Channel
91-40Declining Chaikin Money Flow
238-310New CCI Sell Signals
190-229Parabolic SAR Sell Signals
99-143Stocks in a New Downtrend (Aroon)
51-22Stocks in a New Downtrend (ADX)
78-22Gap Downs
2-2Breakaway Gap Downs
24-1Runaway Gap Downs
00Island Tops
Bullish Reversals
87-43Bullish Engulfing
6-15Piercing Line
1010Morning Star
8-15Bullish Harami
10Three White Soldiers
Bearish Reversals
13543Bearish Engulfing
235Dark Cloud Cover
1-1Evening Star
39-13Bearish Harami
3-17Three Black Crows

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HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN; IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK OF ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL WHICH CAN ADVERSELY AFFECT TRADING RESULTS.

Futures trading is complex and carries the risk of substantial losses. It is not suitable for all investors. The ability to withstand losses and to adhere to a particular trading program in spite of trading losses are material points which can adversely affect investor returns.