Where I Think the Market is Going Monday

It's Friday afternoon.  Do you know where your charts are?

This is my best interpretation of the data.

We've been at a buy signal off and on since that last pivot point.  The strong buy yesterday lost some steam today, but it's still mostly bullish.  In this case the timing array won out, as did Bo Polny :P  There is some day left though, and if this closes below the cyan line, then it's looking pretty bad.  That might be enough to turn the green and orange lines down too. 


This is why it's important to look beyond the daily.  I recently did a post saying that it would go up for part of this week and turn down late in the week. 

It's pretty aggressively bearish on this sell chart.  The green arrow just means that it's a low for the period and we can easily take that out. 


So, in my humble opinion, this day to day stuff is giving way to the longer term weekly bearish trend, established by about 9-7!  With an all time high in the Nasdaq.  The post fed bull market jibberish was allowable movement in this weekly bear trend, much like Brexit was an allowable drop in the bull trend.


Based on the timing array, Monday looks like a big drop, much bigger than today.