OK, they got to 1312 on monday at about 2pm
5 days Arms = 87.4 indicating a short term sell
5 day trin = 437 - Ditto
10 day trin = 968 Ditto
P/C ratios neutral
July 15 low to Aug 11 high = 18.5 days
July 15 to Aug 22 = 28 days
28 days less 18.5 days = 8.5 days
1/2 of that = 4.25 days
Aug 11th at 2pm + 4.25 days = friday @ 4pm
It appears we got a rebound from the low which = wave "A"
guessing that we will have a 3 wave structure of A-B -C
Where's "B "going??
240 pt loss X 50% = 120
1200 + 120 = 1320, Ok we got to 1312, close enuf
120 pt gain from July 15 x
38.2% =46 which carries out to 1266
50% = 60 1252
61.8% = 74 1238
So, we have a range of 1238 to 1266 by friday Aug 15th.
where does that make numbers for the week after? good question.
August 22 nd should find the market ending at 1340 area which could offer a 600 to 800 pt dow rally that week. Astro is lite and positive that week.
Best for now
Jay
THE NEW JAYWIZ 2023
THE NEW JAYWIZ 2023
3 comments:
As always, appreciate your insight and willingness to share with the masses.
Hi Jay,
Even on holiday in Germany, for insdtance today, I seize the opportunity to read your take on the market. I said it before, you have a magic touch, even when you´re wrong at times.
Peter.
Jay, I thought Arms and Trin were the same thing, yet you have a different number for the 5 day Arms and 5 day Trin. Would you mind explaining that to this market novice if you have a moment. Thanks and I really appreciate your site and your insights.
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