Weekend Report for Monday, September 21, 2021
Bottom Line:
I think we will see at least a short-term top very soon. I do not think it will be the ultimate high of the bull market.
PDF: Weekend Report_2025_09_21
VIDEO: https://youtu.be/rroPsGFG0VE
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SPX Profile
The September Auction is extremely vertical. Rotation is increasingly likely to occur. I think development schematic 1 is more likely that development schematic 2.
SPX Daily
It isn’t the only reason to be expecting a short-term top soon, but the SPX is approaching the extreme gain of up swings since May.
RSP
Upper KRAs: 191
Lower KRA: 189-188
NDX:
Upper KRA: ?
Lower KRA: 23759; 23685
This is a blowoff. Maybe it continues, but it IS a blowoff.
DOW Weekly:
Upper KRA: ?
Lower KRA: 4500-44934
RUT
Upper KRA: 2468
Lower KRA: ?
New York Composite
Upper KRA: 21601
Lower KRAs: 21312
Internals
No change: There are significant divergences from this perspective. My usual caveats apply.
VIX has increased as the indices have rallied. This often signals a short-term top.
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US Dollar – Weekly
No change. The US dollar appears to be breaking down in a major way.
US 10-yr Notes – Weekly
Notes have established higher highs and lows within the larger range.
Gold
The highlighted upper and lower levels are important.
Crude – Weekly
Weekly lower lows and highs.
Bitcoin
For the first time since April BTC may be forming lower lows and highs.
