There is very little on the calendar this week, as far as economic news.
However, there is a USD Jackson Hole Economic Policy Symposium, scheduled for Friday, August 26. That should move the market direction over the next few weeks... If the results of that meeting are positive, expect a big rally, to former support lines... If the results are uneventful or negative, expect further selloff (until the good economic news is eventually announced).
If I had a crystal ball, it would say:
sell off continued monday-wednesday, followed by end of day rally on wednesday, and continuation rally on thursday.
friday news leak, market selloff (news is not good).
Following week: monday is flat, and on tuesday, market rallies, as terms are agreed to from summit, the market rallies 10%-20% over next days/weeks.
Once we reach old support (now resistance lines), we sell longs, go short for the final selloff...
tb
PS- there are 3 things I am certain of. Death, Taxes, and Market Volatility.
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