Weekly Spiral Calendar Stock Charts For August 20th, 2010

Posted: August 20th, 2010 under Predictions, Stocks.

This week the charts show a 10-day moving average (red line) which is how we determine whether to plot a red spiral cluster bar (price is above the moving average and so we expect a top) or a green one (price below the moving average so we expect a low).

Spiral clusters indicating a possible turn are present today for the Dow and S&P 500 and also next week, on Monday for the S&P 500 and Thursday and Friday for the Dow. These latter two on the 26th/27th are the ones shown in our monthly chart for August 2010. Nasdaq-100 isn’t showing any near term spiral clusters/likely turn dates.

The blue vertical lines show a spiral calendar grid aligned running forwards from the April 26th, 2010 high, and the red vertical lines show one running forward from the Flash Crash on May 6th, 2010. These dates align quite well with several of the high and low points during the decline so far. Also F7 from the flash crash is not drawn but falls today Friday August 20th, 2010.
Of course there are many other spiral grids that could be drawn starting from other high or low points, but that would make the chart too busy, and in any case this is what the short vertical spiral cluster bars above and below individual dates attempt to summarize in a comprehensive way.

So in summary we may be at or near a wave 1 low today, with a short term bounce due which would correct the move down from the August 9th top, or maybe just from the August 17th top, possibly rallying into the turn dates on August 26th/27th. However given that we are fast approaching a third wave down at multiple degrees of trend, it makes sense to err on the short side.

For more detailed views of possible/probable near-term Elliott Wave counts I highly recommend the blog Daneric’s Elliott Waves which is free, timely, and comprehensive.

I recommend clicking on each chart to see the enlarged version as browsers tend to do awful things to shrunken images, such as remove price bars entirely.

Dow

Spiral Calendar Turn Dates Chart For DJIA for August 20th, 2010

Spiral Calendar Turn Dates Chart For Dow Jones Industrial Average for August 20th, 2010 – click to enlarge

S&P 500

Spiral Calendar Turn Dates Chart For S&P 500 for August 20th, 2010

Spiral Calendar Turn Dates Chart For S&P 500 for August 20th, 2010 – click to enlarge

Nasdaq-100

Spiral Calendar Turn Dates Chart For Nasdaq-100 for August 20th, 2010

Spiral Calendar Turn Dates Chart For Nasdaq-100 for August 20th, 2010 – click to enlarge

New visitors: please see this post for a brief explanation of the spiral calendar.

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