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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.
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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 |
| 700 | 259 | New 52-week Highs |
| 109 | -48 | Strong Volume Gainers |
| 22 | -7 | Bullish 50/200-day MA Crossovers |
| 402 | 140 | Bullish MACD Crossovers |
| 23 | 10 | Oversold with an Improving RSI |
| 484 | 78 | Moved Above Upper Bollinger Band |
| 588 | 174 | Moved Above Upper Price Channel |
| 369 | 53 | Moved Above Upper Keltner Channel |
| 170 | 4 | Improving Chaikin Money Flow |
| 955 | 503 | New CCI Buy Signals |
| 718 | 431 | Parabolic SAR Buy Signals |
| 199 | 10 | Stocks in a New Uptrend (Aroon) |
| 129 | 24 | Stocks in a New Uptrend (ADX) |
| 133 | 48 | Gap Ups |
| 14 | 13 | Breakaway Gap Ups |
| 33 | 13 | Runaway Gap Ups |
| 1 | -3 | Island Bottoms |
|
| Bearish TA |
| 160 | -143 | New 52-week Lows |
| 44 | -47 | Strong Volume Decliners |
| 21 | -5 | Bearish 50/200-day MA Crossovers |
| 120 | -50 | Bearish MACD Crossovers |
| 15 | -2 | Overbought with a Declining RSI |
| 96 | -130 | Moved Below Lower Bollinger Band |
| 130 | -183 | Moved Below Lower Price Channel |
| 89 | -117 | Moved Below Lower Keltner Channel |
| 91 | -40 | Declining Chaikin Money Flow |
| 238 | -310 | New CCI Sell Signals |
| 190 | -229 | Parabolic SAR Sell Signals |
| 99 | -143 | Stocks in a New Downtrend (Aroon) |
| 51 | -22 | Stocks in a New Downtrend (ADX) |
| 78 | -22 | Gap Downs |
| 2 | -2 | Breakaway Gap Downs |
| 24 | -1 | Runaway Gap Downs |
| 0 | 0 | Island Tops |
|
| Bullish Reversals |
| 87 | -43 | Bullish Engulfing |
| 6 | -15 | Piercing Line |
| 10 | 10 | Morning Star |
| 8 | -15 | Bullish Harami |
| 1 | 0 | Three White Soldiers |
|
| Bearish Reversals |
| 135 | 43 | Bearish Engulfing |
| 23 | 5 | Dark Cloud Cover |
| 1 | -1 | Evening Star |
| 39 | -13 | Bearish Harami |
| 3 | -17 | Three Black Crows |
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Last Week's Matrix, Indicators and Forecasts
Full review of last week's indicators
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Tonight's Free Charts-20240908.png)
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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.
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