Rotrot -Thanks for the great chartA sell off COMETH - NOT because of the chart above
BUT
I try to find one chart a day, if possible that has some meaning-
& its not the ONLY reason for my forecast.
Mahendra - THANKS - I AGREE with your outlook 100%
Metals DOWN, STOCKS DOWN ,and the Dollar UP -
yesterday's jaywiz GOLD index = 16 & last 2 days were 15 & 31
Adding it up a SELL on GOLD
Dollar settling near 79.50 as a FLOOR= a rally about to happen
and it happens against a falling stock mkt- inverse as it may seem
MERC turns DIRECT this wkend - sometimes has what seems like a delayed effect.
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Whats NEXT for stocks ?
Heres some data for the puzzle
Activity index was at 100 at 7am, and has dropped to 33, the lowest possible level for that index.
power index today struggles with a cluster near the 500 to 400 level- about the same as yesterday.
propensity index =
opens @2992 ,a little lower than earlier level at 2994 = similar to yesterday.
Jumps UP to 2996 by mid day- just like yesterday
Drops off to 2990 - just like yesterday
HMMM, are we getting a picture here
TODAY = SAME AS YESTERDAY ?????
However, THIS TIME a Late sell off should be more severe thus leading to
""A SELL OFF COMETH ""on May28th as the power index drops to the 300 level
lowest level there is 200
WATCH OUT as the 29th power index jumps back up to 500 at close after opening at 300
ANOTHER SELLING OPP @ friday's close ???
I think so, but I need more data b4 making that call
However, the astro read does call for a difficult day with June 2nd as the reverse of Monday
More later
9:20am
ps; I DID NOT close out my short position yesterday & I will add more today
the low at 3;45 did NOT present enuf $ to make it worthwhile
as the above data was becoming clearer
Jay
8 comments:
Jay,
To clarify....SHORT today and LONG June 2nd ??
Pete
Once more thanks again for all the Great comments
10am @ 126bars on home inventory data; --hmmm. destiny
Now looking to add more shorts at either 11am, or 2pm or both
Looks like spx 913 has very strong resistance - Murrey Math at 909
Next lower level = 32 pts lower = 877, THEN - 32 = 845
Activity index holding at 33
the 13 day cycle was due at 10:43, but may have already hit at 9;43
its now 10:25 as i write this and they are coming back a bit- will see what the 11am HOURLY turn brings us - if positive, I think I will add more shorts
Jay
WOW, some of you need hand holding
Pete, Follow the bouncing ball
sorry to pick on you
but
AS IVE ALREADY posted several times ,Im already short & adding more today.
PLEASE KEEP UP WITH ME
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Im expecting a Late sell off today =
BIG DOWN DAY ON May28th with LOW on open Friday- might close out on Thursday to get some cash to trade short again on fri @ mkt close.
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MY THOUGHTS out loud [g]
Maybe close out short position on june1st -time to be determined later;
UNLESS
I think I might want to catch the
June 2nd rebound MAYBE to the 8th.
PS;
I post MY trades only, and this is NOT advice of any kind
ALSO, Please excuse my ramblings as I post my thoughts & trading strategies
WE have CHOICES and YOU must make YOUR own trading decisions
Yes, YOU can use what ive posted, but YOU must be responsible for your own trades
Hmm, its 10;30, and im getting a little hungry - Yeh, I know crazy as it seems -it usually coincides with an up mkt
BUT it fits with an 11am high in the next 30 minutes
Activity index at 10;30 still at 33
_____________________
Jay
BAR CYCLES this week
TODAY
126b @ 10 HIT EXACTLY
180bar at 3;30
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Thsday
204b@ 10am
258B @ 3;30 which makes
4pm @ 264 bars, a meaningless count
BUT 3:45 pm might be important as its 45 min after the 3 pm TURN
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After 258 bars, the mkt usually finds a reason to rebound
unless the mkt is ALREADY
in rebound mode such as 258bars last friday @ 12;30pm
BUT the close was 100 dow pts off the HOD at 1pm.
So, you can see nothing is cut in stone & everything is FLUID.
more later
Jay
DAMN
29th WANTS TO START out on the REBOUND !!!
I will be CLOSING out my shorts on CLOSE of trading TODAY
Will look to re enter on a high tomrrow anytime between 9:45 and 11am
But I will hold GOLD puts for now
Jay
Jay, appreciate your updates as the market changes,thank u.
waterfall
thanks jay. good job
sam
Jay, do you perhaps have days confused? Why get rid of your shorts today if there will be a sell off on the 28th (i.e. tomorrow)? You mentioned that the 29th will rebound, tomorrow is the 28th....
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