Our September forecast is coming to fruition. A top in this current rally into Sept 3/4th with some consolidation into the Fed meeting, Sept 16th. There is a good chance of a secondary peak into September 23rd, which our system has identified running cycles from the past 60 years. We have followed certain aspects of the 40-year cycle this past trading year, as many of you know, which led us to pick the March 23rd bottom to the day when we entered TQQQ at $33. We had a secondary peak in 1980 into this September 23rd date. This may not produce all time new highs for all indexes, but strength should be expected. As of now, we would say October is going to contain the bulk of a quick, sharp sell-off. We should see two sided action with an advance for half the month and decline the other half, order to be determined. This is a high confidence call from our system with the use of artificial intelligence software. Short interest in the market is at an all time low, so when a sell-off happens, there is no short covering to buoy a decline. These are the types of environments that can produce mini flash crashes, potentially very profitable if timed properly. We will go over a hedging strategy early next week for members into election season.
Gold has worked off extreme bullish sentiment and can usher in a quick bounce into early next week.
Daily sell signals across the board in SLV, GDX and GLD. Hard to place big short term bets or use leverage in this environment.
We need some help from President Trump over the next 3 nights at the RNC regarding tariffs if we want to see $10+ on this rally into September. Powell’s speech regarding inflation on Thursday may play big for the steel sector and the USD.
The mayor of NYC today said he will shut indoor dining restaurants down most likely into winter. This same approach to Covid is being implemented in other cities. We are looking to exit DENN on strength soon.
The bottom to our pullback may be Thursday when Powell speaks. He may be the catalyst for an advance in BTC into September as we forecast.
Hurricanes are coming and oil has begun to surge.
SPCE is starting to turn for us. It will reward us very soon and has home run potential into November.
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