There are some indications the Higher OPen that I anticipated for this morning
MIGHT happen on Wed at open, but the balance of the day should sell off
leading to an OPENING low on the 26th
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today, so far, hit the low notes and high notes on schedule
9:45 LOW & 10am high
BUT more important
10:45 am was the 60 bar cycle right on exact
THEN 1:30 pm a MINOR dip at 90bars
Its Now 1:40pm and counting
The DAILY Activity index is bouncing between 133 and 266 in a very narrow range
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Hourly turned up at 11am & 1pm
OK now its 7 pm and the CLOSE hit a low
AT 126 bars
THAT LEAVES THE DOOR OPEN FOR A BIG RALLY
ON WEd AM
WEd looks LIKE UP / Down / Up & DOWN at the close like today.
WHY ? Because the CLOSE is at 204bars and should close DOWN
The Power index seems to be RIGHT ON THE LINE between
Wed & thsday, so it accentuates the potential for another sell off
or at least giving up its early hard earned gains
The 26th however, is calling for a run for dow 8000 is likely
The AM of 27th wants to take it away, but should give it back later in the day.
MORE LATER
Jay
1 comment:
Nice call Jay. So do your readings still show market to consolidate/sell off today or head higher in to month end?
Peter
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