S&P 500 could lead to a resumption of the rally to higher prices – FXStreet

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11/05 Recap: –  The S&P opened with a 19 handle gap up and then traded another 20 handles higher into a 10:04 AM high of the day and new all-time high.  From that high, the S&P declined 36 handles into a 1:30 PM low of the day.  From that low, the S&P gradually rallied 20 handles into a 3:37 PM high. From that high, the S&P declined 6 handles into the close.

                               

11//05 – The three major indices, following big up openings to all-time new highs, closed with small to moderate gains per the following closes: 

The DJIA + 203.72; S&P 500 + 17.47; and the Nasdaq Composite + 31.28. The DJIA made a new all-time high at 36,484.75. The S&P 500 made a new all-time high at 4718.50.  The Nasdaq Composite made a new all-time high at 16,053.39. 

Looking ahead  – Thursday night you were alerted to our “next major change in trend window with the 11/04 AC New Moon and two aspects to the US chart.”  The S&P had a strong gap up and rallied a total of 39 handles from the previous close, to a new all-time high, which happened just past

10 AM. This is the classic pattern we often see when we have an over-night change in trend.  When this happens, the market will often reverse in the first hour and many times about 10 AM.  From the high, the S&P had a 36 handle decline and a modest recovery into the close.  This weekend, we have another major change in trend window with two major aspects to the US chart.  This situation presents two possible scenarios and represents a battle between these two windows for dominance.  If the market makes a low Monday AM, this could lead to a resumption of the rally to higher prices.  However, for confirmation, we would want to see the S&P break out over Friday’s high at the 4718.50 area.  By Tuesday, if either Monday’s low or Friday’s high has been exceed, the market should be in a strong trend in that direction. 

The NOW Index is in the NEUTRAL ZONE. 

Coming Events:   

(Stocks potentially respond to all events).   

2. C. 11/05 AC – Pluto Contra-Parallel US Sun.  Major change in trend US Stocks, T-Bonds, US Dollar.

    D. 11/09 AC –  Saturn 180 US North Node.  Major change in trend US Stocks, T-Bonds, US Dollar.

Stock Market Key Dates –

Market Math –

11/29 – 5,161 Music Days from the major 10/11/2007 high. 

Fibonacci – 11/10, 11/13, 11/19-22, 11/26.

Astro – 11/5, 11/08, 11/10, 11/17, 11/19, 11/22, 11/26 

Please see below the S&P 500 10 minute chart.  

       

Support  – 4681, 4660  Resistance – 4719, 4752, 4761

Please see below the S&P 500 Daily chart                                             

Support  – 4681, 4660  Resistance – 4719, 4752, 4761

Please see below the Planetary Index charts with S&P 500 5 minute bars for results.    

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