Posted Aug 20, 2017 by Martin Armstrong
We have added some short-term text to the opening of the Standard base edition of Socrates to help during this immediate market shift going into September. We will be adding an intermediate level soon that will have short-term analysis and then the third level will have the access to the arrays and reversals.
This way everyone of different interests will be able to tailor their subscription access to only what they need. Here is a preview of short-term text analysis we have added to the standard access edition at this time for the next 30 days. This will begin tomorrow.
Those who are not on Socrates can view this text on the various market as well as the Private blog posts which are exclusively available to Socrates subscribers. To sign-up for Socrates or to learn more, please visit Ask-Socrates.com.
DOW JONES Standard Level:
As of the close of Fri. Aug. 18, 2017, the Dow Jones Industrials broken the previous session low and closed closed beneath that low. Our immediate trend model is bearish as are our momentum models so we should still expect a retest of support. Projected technical Resistance stands tomorrow at 2179337, 2167453 and 2172490. Opening above this area will cause it to become support. Projected technical Support tomorrow lies at 2164165. Naturally, opening below this area will cause it to become resistance. Dow Jones Industrials closed today at 2167451 and is trading up about 9.67% for the year from last year’s closing of 1976260. Thus far, we have been trading down for the past 2 days. On a broader perspective, this market has been trading down overall for the past 8 days, since the high established Tue. Aug. 8, 2017 following the high established Wed. Aug. 16, 2017.
Gold Standard Level:
As of the close of Tue. Aug. 8, 2017, the NY Gold Nearest Futures made an outside reversal to the downside closing lower. Clearly, this market is encountering underlying support. Opening higher may spark a bounce. Opening above projected resistance and/or exceeding this session’s high would lead to a sharp rally ahead. Projected technical Resistance stands tomorrow at 126772, 125932 and 125982. Opening above this area will cause it to become support. Projected technical Support tomorrow lies at 125392. Naturally, opening below this area will cause it to become resistance. NY Gold Nearest Futures closed today at 125930 and is trading up about 9.34% for the year from last year’s closing of 115170. Thus far, we have been trading down for the past 5 days, while we have made a low at 125390 following the high established Tue. Aug. 1, 2017.