Wednesday, March 14, 2007

BIG rally BREWING, but NOT today

Today's key times are as follows

negative influence of 180 bars at 10;30 AM
minor positive influence at 11:46 am
negative 204 bars at 12;30
Negative influence after market at 3:22pm

Im getting ready to BUY a POTENTIAL huge rally on FRIDAY, but Im going to wait till late Thursday as the electromagnetic energy levels remain high thru Thursday.

today, overall calls for a better day than yesterday- thats quite obvious- very rarely will we get 2 days like yesterday back to back.
CBOE- PC ratio quite high at 1.45 = bullish
OEX pc ratio = 1.38 also bullish
spx 500 pc ratio =2.18 ditto
Vix 18.23 = Ditto
SO, its just a matter of waiting for the wave count to complete its downside action.

best wishes
PS; I did warn you to take your profits yesterday on any shorts or puts that you might have bot on Friday.


Wizard said...

Hi Jay,

In all of your technical's do you see Silver breaking out to the $13.30+ region by close this Friday?

Jay Strauss said...

Metals are on the same track as STOCKs and are headed LOWER till May 10th
I dont see any breakout for metals till LATE 2008.
IT took 5 years to get from 250 to 750 last May 2006, and it will take at least 2 yrs plus to gain some traction for a MAJOR move higher.

check out a 40 yr seasonal chart on silver and gold and you will see a TREND change LOW on May9th

the XAU/Gold ratio hit 5.00 for the first time in a while and should get a ONE DAY POP this Friday along with the market