Jeff Pierce's  Instablog

By Astrology Traders

The following is from Sunday premium report published on May 12th by Astrology Traders, which uses astrology to forecast events in the financial markets. Jeff Pierce adds in the technical picture for the stocks and sectors in focus. If you'd like to sign up for their free newsletter to be notified of upcoming webinars you can do so here.

We could again see a shift in the bond market on May 20th that will in my view be a warning of what is to come on June 20, 2014. The speculation that the Fed will end its QE and bond buying program in 2014 could be the signal that the top in the bond market will be near June 20th next year. We have been trading TBT with a very accurate strategy since the beginning of the year and we may again have another opportunity for a long position in the near future. On January 9th we issued a trade alert for a long position near $65. We followed up on February 24th with a recommendation to trim profits near $69 and advised there could be a pullback March 11th-March 27th. On March 10th we reminded subscribers to close the remaining position with the impressive move to $69.42. Looking back our trade target was within .42 cents of the high and the pullback materialized exactly on our target date of March 11th

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Near June 12th-15th there could be news that money is flowing out of bonds and into the markets. Watch for a pullback to near $61.40 to add a long position on TBT (ProShares Ultra short Treasuries)

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By Jeff Pierce

Since November lows the Nikkei has risen 6k points vs 2500 on the Dow. Yes I think the markets are overheated and due for a pullback, but it's not a given so be careful to not let any trading bias dictate your plan.

My timing signal on US equities has been taken a hit over the last few weeks as it signaled a pullback was coming and yet the markets continued to rally. All I can really say is the markets are being different right now and I don't know if it means different bad or different good. So I've been playing both sides of the market, but clearly the market wants to go higher.

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I'm amazed at the markets ability to keep pushing the equity markets higher without coming up for air. The volumes are very light and the public remain sidelined. This move is on autopilot as the "Bots" ride the trend while the fund and money managers are afraid to be out of the action.

But the S&P is now getting dangerously overbought and stretched. Now very clearly into the 4th Daily Cycle, the S&P has pierced its 20dma (more than 2.5% above its 20dma) envelope and is sitting right on the upper Bollinger band. Because the Equity Cycle is on Day 15 and nearly 100 points above the prior DCL the odds are extremely high that today marked at least a Half Cycle Top. I'm not saying the primary move is necessarily over, but some consolidation on the Daily chart is extremely overdue.

The real story of this equity move is on the Investor Cycle chart. Amazingly it looks as if the Equity markets have bucked what looked to be a certain IC Top. The Cycle was well and truly deep into the timing band and the technical divergences we confirming a Cycle top.

But just as the Cycle began turning lower, a new wave of buying rushed into the markets. I'm not entirely sure how to explain it because the move has little precedence. I think attributing it to the FED's POMO activity is probably an oversimplification. What the markets have become is grossly irrational in light of the fundamentals and this type of behavior (or divergence) is almost exclusively reserved for those big cyclical market tops/lows.

So this irrationality is a sign of a major market top being hammered out. But the problem with these moves is that they always extend further and longer than we expect. I have no doubt that within the next 1-4 weeks that the S&P will drop more than 100 points, an ICL is desperately needed. But we can not discount the markets ability to run sharply higher out of the next ICL, so therefore we cannot say for sure if the 4 Year Cycle Top is going to print with this Investor Cycle.

This as is an excerpt from the Midweek's premium update from the The Financial Tap, which is dedicated to helping people learn to grow into successful investors by providing cycle research on multiple markets delivered twice weekly. If you'd like to receive real time alerts as well as the most up to date reports, you may want to take their FREE 15-day trial to fully experience what they offer. Coupon code (ZEN) saves you 15%.

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