A Cyclical Top in the Institutional Portfolio is in the making

Our Option work is exactly confirming the topping action from last week. All 3 key gages we look at scream TOP !

The TimeCycles model could allow for some bounce next week or so but points to a cyclical LOW in September. This would invert the normal SEASONALITY .
On the MOMO side Price as well as FLOW MOMO have turned down at resistance levels. We could retest those levels as part of the bounce but if the TOPPING story is real then those resistance level should hold.

Giving the Market-Spasms we expect early next week as result of the US Debt Ceiling Drama the POP (Bounce) could be brief and intense if they pull a rabbit out of their hat in the final hour.

If not.....