Greetings and Welcome to This Week’s edition of my Top Down Review, titled this week :Risk Rising:

The market bounced last week as expected. On the daily charts the market looks in a topping process and with September a week away, looks poised to give us another September to remember with a correction. Yet when I step back and look at the Weekly charts I see a shallow pullback.

Something is likely to give. The lack of a correction greater than 5% this year suggests we are long overdue as well as the seasonality of September and a year ending in 2007. However the lack of HINDYs and the weekly charts may suggest something else. This although I say risk is rising, I do call out that risk can be both ways.

Have a great week and be careful

Jeffrey

PS: I will be holding a live event 12/3 in Palm Beach Gardens FL adjacent to John Persons live program 11.20 – 12.02 as well as speaking alongside John. For more information, go to http://www.personsplanet.com/algo-trading.html or contact me at HGSIDoc@gmail.com<mailto:HGSIDoc@gmail.com>

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