Mini crashette
Broke all support levels
where to next?
Dow has weak support @ 12,100--- has strong support @ 11750---- then 11,625& ---then 11,550
Jaywiz index today = .35 somwhat bearish
You can now see the history of the index= .74, .75, .47 then the big one day rally
June5th = .16 and wow
The ARMS index = 3.92 and the volume was 88% DOWN
I would usually consider such a high arms index as a precedent for a buy signal, but coming off the recent high and the very first day, it suggests a lot more selling to follow.
My radar is set for the 11th/12th as a near term low with a strong rebound starting on the 13th.
High oil - Warnings about nuclear capabilites- big jump in unemploy rate- more to follow.
Monday bar cycles
156 @ 11:30
180 @ 1pm
204 @ 3pm, and that should be the low of the day
best for now
Jay
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