SPX monthly update
The SPX is in our target zone to exit all remaining longs ( except special situations) and enter shorts as we are about to make at least a trading top ( 5-7% down). The 1310 level carries a risk of up to 1330 higher thats why I do build up the position. The cash has already a 13 count the ES future makes an 11 count today. As important even more indicative is that Apple made it to my target are of 420-30 to complete the counts and the NQ ( Nasdaq future) counts a daily 12 today around the target area 2430-50. The astro patterns do also align for a top these days as do some cycle counts ( very good input from http://www.Insiide.com – check it out). The least drop potential I am looking for is down to 1240-50. Big tops are made anyway with some roller-coaster volatility and the timing for that is around 7th Feb when Saturn goes retrogade at a very crucial level – that is the time where I expect even a steeper drop to start. In EW terms the immediate drop is rather a wave 1 down but the ugly part is usually wave 3 down which should rather happen around that early Feb. date.