The Astro Trend Graph for the next two weeks shows the indexes heading lower into the Aug 9th area.
The Projected Trend Graph was showing all positives for the week, so I did not put much faith in either
of them as they conterdicted each other. The Project Trend indicator appears to be in an inversion,
and the trend will continue down.
With no resolution to the debt crisis, and no signs of a resolution, I am of the belief that there will not
be a resolution by the end of this week.
The DJI, OEX and SPX bottomed today near Gann Fan lines with both the DJI and SPX near the bottom line.
The DJI and the IWM have closed below their 7/18 lows making them look like their are in wave 3 of a
downward trend.
The OEX is also finding support from the trend line off the lows of 6/23 and 7/18.
This same support level has already been broken by the DJI, SPX, and the IWM.
The OEX has some ground to make up here.
We are in the 4th quarter of the Moon this week. It is the phase of the Moon when large drops are most
likely to occur. The Moon reached its max declination today, which is another indicator assoicated with
market declines.
From our calendar studies, we also know that the last week of the month is likely to see more pull-backs
than rallies.
Gold and Silver, after moving higher for a few days, both pulled-back today. The SLV formed a Bearish Engulfing candle. Another sign the big drops are most likely over with for this week.
Considering the above, I think this pull-back is over for the time being, or at least the big moves are over.
So, it may be too late to profit from OEX Puts this week.
Next Wednesday, Aug 3rd, has a "V" indicator of 3! I will discuss it in mext week's OSS INDICATORS newsletter.
--Rob
