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LT wave for September 2019

Posted by Dan on September 2, 2019

August was a very volatile month, with news items causing big swings in both directions. That’s not the easiest of environments to trade lunar cycles, but the LT wave didn’t perform too badly after all.

Expected upward bias failed to show up in the first week and the market had a steep drop. Next, a kind of triple bottom at 2820 was formed and the wave was back in sync with the market swings for the second half of August.

Here is the LT wave for September:

ltwaveSep2019

Positive bias is expected to continue until the 4th. This could allow the S&P 500 to break out above resistance at 2940. Then there is a weaker period until the 24th. If the market drops back below the 2820 triple bottom during this time then it can get pretty ugly. The final week of the month looks stronger again.

Good luck.

One Response to “LT wave for September 2019”

  1. […] September started as expected, with an upward bias in the first week. The subsequent weaker period gave use a long sideways pattern with a slight downward trend. The projected strength in the final days of the month saw an attempt to climb back towards the 3000 level, but it failed very quickly. […]

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