BUT NOT on Monday Spt 22nd -
Not all the Jaywiz index data is in, but the one that gives me a future view by one to 3 days is indicating a down day on Monday
Pressure readings dropped from 3040 to 2990 for Monday, but they zoom back up on to 3020Tuesday
Whats NEXT?
Consider Spt 17 the bottom of a 5 wave decline, and forget how it fits into the overall Elliott wave count.
The Spt 18th LOW @ 1pm was the 50% completion of an 84.5 hr cycle that began on 8/21
THUS the blast off which would have occurred regardless of the treasury/Fed or NOT.
10,500 to 11,400 in less than 2 days deserves a good sell off day and that's MONDAY
But the UPTREND should still continue to Oct 3rd.
In the meantime, there's 10 days till then - What should we expect in between? glad you asked.
Lets say the high on the 19th = the top of rebound wave "A"
Whats next is Decline phase "B"
Timewise it looks like the B wave should break down into its own abc
Within the 84.5 hr cycle, we get
9/24 @ 1pm , a Low & the power index agrees @ 200, then to 350 later
power index for 25th = 475 start of the day, STRONG OPEN, but drops to 325 later so any rally that day should fizzle
9/29 @ 11 am to 1pm, a Low , which should give way to the Oct 3rd high- some say SPX 1300.
Hope this is easy enuf to follow
its only 10 days. some analysts give out data relating to what happened in the last 2 years to get where we are now.
That shows us how smart they are with math formulas, but what does that do for us now?- Nothing
Best for now
Jay
4 comments:
u live in dreamworld saying the blast off would've occured without the fed/treasury announcement
NO, YOU live in dream world
Elliott wave waits for no one.
The Market forces Fed action not the reverse
I said nothing about what forced Paulson's action, although it was the potential for a derivative meltdown, I said that without the ANNOUNCEMENT!!! the market would not have rallied. your 50% cycle happened to coincide with the announcement...people don't make decisions based on your stuff, your stuff works based on people's decisions
OK, I do follow Elliott, cycles, etc, but I do follow news and fundamentals as well...that was my point--you're doing a fine job calling the markets with pure technicals. I just prefer a blend.
Best,
Steve
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