Nov 7 PM Post

My thinking now is concerned about the e-wave formation on the hourly chart for the stock market. It looks like an irregular bearish flat forming. My new Timer Trac trade will exit the stock market long at the RYDEX close today and go short. The daily is on a strong sell signal suggesting we may be seeing a false -b- wave here today. We may re-enter to the long side Monday or Tuesday. The 4 day cycle can run 3. The 8 day can run 10 days and we may be looking at a lower low in the next 2 days.

The full moon due Thursday next week may be the 13 week cycle top and would count 7 days off the Tuesday top, close enough to the expected 8 days top to top and 4 days from today.

Today looks like an inside day within the previous dark candle and we had no follow through. That really bothers me. Another thing is the SPX P/C ratio divided by the OEX P/C ratio which is at .44. The OEX players are buying puts 4.12/1 over calls and they tend to be very smart players.

No new signals for the XAU/GDX as I remain neutral there for now.

My thinking is for more down work ahead in the stock market and a possible test of the 850 SPX level.