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LT wave chart for October

Posted by Dan on September 26, 2013

We are nearing the end of the month, so today I am sharing the LT wave for October (click for larger image):

LT wave

Last month the LT wave performed so-so.
The S&P 500 did show the expected strength early in September, but it carried on until a new high on the 18th, a few days later than our LT wave chart indicated.
We are currently seeing the expected weakness for the second half of the month, so maybe it’s not too bad after all and perhaps I am just being too perfectionistic.

Looking into the next week and month.
From today (26 Sep) onwards the LT wave is going rather neutral, which suggests a stabilizing market, and then we see a strong period to start October. This strength is expected to continue until around 8-10th October.
So, if the market stabilizes around the current levels, then another attempt at new highs is likely in early October.
From October 11th we will start a period of strongly negative values in the LT wave, lasting until around October 23rd. That’s when renewed weakness can be expected.
If you are looking for a classic October crash, then October 15-16 would be our first choice, with October 23rd coming second.

Good luck,
Danny

 

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