Certainly it was a strong selloff in the market today, but it was not a crash. Today, SPX fell 34 points below yesterday's low. That is not a crash. There is nothing in the cycles to suggest a crash approaching, and there will not be a crash for the stock market at this time.
Quite the opposite actually, the cycles are extremely bullish after August 10th. I have consistently said to expect selling pressure up until about August 10th due to the time cycles. I have said that this is a massive bear trap, and that analysis stands. Ideally, I wanted to bring out that analysis nearer to August 10th from a timing perspective, but I decided to show early what the headwind is facing precious metals going forward. Additionally, I wanted to be clear why it is a mistake to be overly bearish SPX at this time.
There may be some minimal downside from today's close, but a rally to near SPX 1267 is anticipated next. Another severe drop is likely from the cycles during the Aug 9th to Aug 11th time period. It may be a slightly higher or slightly lower low.
Notice the Financials (yellow) continuously outperforming SPX since July 20th. They are strongly hinting at the coming power rally to NEW HIGHS.
There will be further much more detailed analysis coming this weekend.