One of the greatest Canadian folk songs of all time, "Four Strong Winds," pretty much sums up the market:
Four Intermediate Term Sell Signals;
On the cusp of a Wave 3 of (3) Down;
The beginning of what is historically the weakest;
And in some years most tumultuous seasonal periods.
The elements are in place NOW for a perfect storm.
DJIA
SPY
QQQ
IWM
Trade Management
Nothing begs opportunity like the prospects of a third waves into what is historically the weakest two months of the year - September-October - and at the early stages of third waves down. Blue Line Trading System subscribers have gotten a head start, but there is so much more to come - especially what we intend to do when the light changes to green from red. If you drive a Tesla, you know what's coming. If you don't, well, this is your chance to buy one...or two.
August Trades To Date - Blue Line Trading System: PRO Service ($249/mo -includes Premium Service)
August Trades To Date: Blue Line Trading System: Premium Service ($99/mo)
New Subscribers: 50% Off First Month either Premium or PRO Use Code: GOPRO@50%
$1K Doubled 10 Times
Quote of the Weekend
"Most of the stock market's biggest declines have come in September-October, and the high level of bullishness in evidence this summer is an ideal setup for weakness during that period here in 2023. Crash potential from here is very high."
Robert Prechter, The Elliott Wave Theorist (Aug 18, 2023)