Buy on Cannons

Is the Syrian rhetoric really to blame for this more than expected weakness, I highly doubt it.  In fact I can barely keep a straight face thinking how ludicrous the idea that potentially striking Syria is bringing the equity markets down.  The simple fact is that this is weaker than expected action for a 1st Cycle Low decline and there appears to be some significant distribution occurring in this market now.  I firmly believe that the more dominant weekly and monthly Cycles are topping out here, but one should not expect the equity markets to simply roll-over.  We’re still seeing a massive influx of retail and margin debt capital which will continue to sustain these markets for the immediate future.

For time being though sentiment has reached fairly extreme (negative) levels and the Cycle has stretched to 46 Days (Average is 38 to 42 days).  Based on the recovery this morning and now a confirmed Daily Swing Low we have to assume that we just left behind a slightly stretched (46 days) Cycle making this just Day 1 of a new Cycle.

Buying the dips at every Daily Cycle Low through out this bull market has been very rewarding, I expect this Cycle to be no different.  Even though I expect the equity markets to head into a massive 4 Year Cycle top in late September to early October, the immediate setup calls for at least a 55 point rally.  Don’t let this opportunity pass, just use yesterday’s intra-day low as a tight stop making an entry here fairly low risk.   

The Financial Tap publishes two member reports per week, a weekly premium report and a midweek market update report.  The reports cover the movements and trading opportunities of the Gold, S&P, Oil, and $USD Cycles.  Along with these reports, members enjoy access to three different portfolios and trade alerts.  As these portfolios trade on varying timeframes (from days, weeks, to months), there is a portfolio to suit all member preferences.  If you’re interested in learning more about The Financial Tap and the services offered, please visit https://thefinancialtap.com/landing/try#        

Free Report – Complete the form below