SPY expect an early weak pop and end of week drop

While I know many think the #SPY, #SPX, or S&P 500 is due to end it's bull run. I will avoid any grand predictions for now.

Expect the week to start off well, however, I am not sure the end of the week will end well. At best expect a marginal gain for the week. At worst expect a sharp decline by early next week. Why?

1. the market is forming a raising parabolic ascent in all chart time frames (15 min, 1 HR , 4HR, 1D, 1W, 1M). No matter what timeframe you review, all trends are bullish .... and unsustainable.

2. There are four open consecutive gaps from last week.

3. we are going into mid-month. (those that follow the stock market almanac may disagree)

4. This week and next are historically not good weeks for years ending in 8 and annually in general. (same as above, feel free to disagree)

5. There will be a lot of churn coming out of the news.
-by the end of the week we should know the status of the government fund bill.

-expect south Korean and north Korean talks to commence. The north has a flair for the dramatic that could upset markets, but is likely a negotiation tactic.

-many companies set to release earning, will begin shaping the media narrative ahead of earnings in mid-month. Expect a good chunk of companies to rejigger their finances to take advantage of the tax bill. Some companies (like Goldman) will have to take a hit last year to take advantage of an earnings win-fall this year. So while guidance will be good, earnings might not be as expected. They would be fools to wait until their earnings release to begin lowering expectations.

All that being said, I would not fight the trend. The trend is up! Once all is said and done, we will probably see a nice end of month surge and up we go.... until we do not and this whole thing comes crashing down.
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