Another great chart from Ibo
Heres some MATH to think about
956 to 666 = 300 pts
300 X 38.2% = 115pts
SPX 956 - 115 = SPX 842
912 - 842 = 70 pts
70 X 8 = DOW 560
8505 - 560 = 7945
Just as EH projected LAST WEEK
And I dont mean this for NEXT week or NEXT MONTH
ITS RIGHT NOW - on or b4 the 18th
Jay
40 comments:
WOW !!!!!!!!!!! bEFORE 18TH? I pray you are right Jay. that means we need not worry about the 10:30 bounce. what is the exit strategy and timing. Your guidance is very critical now. thanks gain.
i WAS WORRYING ABOUT THE 10:30 am PROPEN INDEX YOU MENTIONED EARLIER.
sam
One thing I am 100% sure of for tomorrow---the LOD will not occurr before 12:00 pm est.
billy
The 38.2% fib retracement comes at much higher levels, certainly not now!!
Pound seems to be in a triangle pattern. Interestingly last time it got in a similar size pattern ended to the downside on 20th oct 2008.
My limited understanding of Elliot Wave analysis tells me this should break to the upside as the trend was up b4 it commenced (can anyone confirm this?) But of course this doesnt make sense if markets are about to tank
It should be headed to about 1.6304, and hopefully straight through, the move down does look impulsive. Now if this is the case Jay you must be right on we are in for a MAJOR tanking.
I hope jay is right. if 17th is the Short Term LOW then it could be an opportunity to go LONG until EOM and make some $...me thinking theres ONE more UP leg to this.
Jay, timing wise, how is the index at 10:30? are we talking about bullish reversal or just a bounce after which your signal gets weaker. When do you expext the LOD today?
thanks for the great work and your help
sam
Jay
GM.
any am updates for the day
Thanks
I'ts only 10:10 but the market is NOT tanking (yet). As most prognosticators (including Jaywiz) are calling for a tanking today and tomorrow, I would'nt be shocked to see a net rally over the next 48 hours and then the tanking
As for the British pound, with the UK economy in the toilet, that currency should be 30% lower
My comment got lost??
10;30 is 258 bars and just like last week, we hit a low on friday at 2;30 @ 329bars
If 10:30 provides a DOWNTURN, then we should look for 10Am @329bars tomrrow for the OPEN INTRADAY LOW of this wave;
THERE IS NO astro to keep it DOWN tomrrow, so we should get the CLOSING LOW today, whatever that may be.
Jay
Thanks jay but you do not mean the 10:30 low as the LOD do you?
sam
Sam, I had posted a low possible
between 10;30 and Noon
BUT if 10;30 TURNS it lower, it confirms the indexes which are NOW showing a low End of day
And intraday low at open tomrrow
Billy is right.
Jay
Thanks Jay. that is clear to me now.
sam
ok I'm confused ....the low this morning will be the low for today and tommorrow?
faz is just rocketing...5.24 now
Sorry rrman
LOD at close today
LOw of wave at 10am tomrrow
As of tomrrow at 10am
GET READY TO ROCK AND ROLL
UP UP UP
INITIAL High Monday at 11am
hope this helps
GAME PLAN
I will be selling 50% of my shorts at close today
AND
the other 50% tomrrow at 10am
I will be buying 50% LONG at 10am tomorrow
Jay
cool Jay thx much :-)
cool Jay thx much :-)
Spx is down2x what the dow shows and the dow should catch up later today or open tomrrow.
spx is off 8.00 an dow off 40
& nyse off 75
confirms downTrend today
OK
10:30 did provide the TURN of the
day so far, and does setup the intraday LOW for tomrrow at 10am;
10;30 @ 258b + 70bars = 329 @ 10am
Jay
Thanks jay
sam
how long do you see the up wave going Jay Just trying to figure how to play my IRA with the 3 day settlement rule....thx
how long do you see the up wave going Jay Just trying to figure how to play my IRA with the 3 day settlement rule....thx
Thanks Jay and thankyou too Billy. Great calls and work. Please keep it up. What an awesome week so far. I can't wait for tomorrow.
Kathy
rrman
High at end of the month
June
July is another deal
Low on 6th Eclipse
high on 22nd eclipse
Jay
Kathy
i wish to follow you can you pl contact me or how can i reach you.
You follow Jay's analysis quite sharply.
pk
I still expect a sell off end of day
BUt there was a low at 10:55 on the SUN 90 Uranus & the 13day segment at 11;55 was a minor dip
The MAIN fibo cycle is tomrrow, so we still should sell of into the close
Spx still under the dow by half
& nyse down 10.
activity index did rise to 133, now at 100 for the last hour and its now 12;30pm
Jay
Superb work Jay!
Keep it up!
pete
Charts Edge BP shows late day sell off - agrees with propensity
30b @ 1pm came in on time
next is 60bars @ 3;30
game plan would still be to exit at 3;30 either 50% or 100% depending on
where they close today.
THEn buy long as propens index does start on the up after open tomorrow- but more on that in the AM.
Activity index is NOW back down to 66 at 2:30pm
Jay
Looks like MY MATH MODEL IS DEAD for now
We will be lucky to get to 8400
at this rate
Jay
from the SPX 956 high
it looks like
a-b-c to 921
X to 927
a-b-c- to 904 this AM
now in X to 918 so far
wating for a-b-c - maybe
OR we have started wave 1
and got to 918 in 5 waves from this AM low,
now looking for wave 2
spx and Dow have closed ranks
Jay
Jay
Your calculation is good, and is well shown in European markets, they were down at least -1.5%. But over due to manipulations it takes a while
Jay:
I see five waves completing from Thursday 956 high to today's 904 low.
Since 10:46 AM to 2:40 today, we did an a, now doing a b which may create double bottom by 10AM tomorrow if your cycles bottom there and then a sharp c, which may take us to 924 -936 area. I do not see much more up than that until we do another five down to may be 875 area.
Ravi
OK Ravi
that was my second choice
double bottom at 904 to 900
depending on how low at close today
Spx 936 rally is NOTHING
If this wave only a B wave against the UPTREND, we could make it to 1000 by months end??
just guessing at that number??
Jay
Jay you have done a fine job here. you coaught the trend much early than anyone. the day is not over yet. I HS pattern here. we may get big down in the last few minutes.
anyway thanks for your help. keep it up
sam
Ravi
the UP wave from this morning could be wave X against the DOWN trend and we could see the lows on friday on the midnite LOW tide.
the POWER INDEX continues to slide lower into Friday
Other forces such as natural energy
are not in sync with that outcome
propens index has not caught up yet for tomrrows outlook
Activity index is STILL at 66 = lower close
Jay
Jay your lower close call is correct. we just broke the neckline at 911 we should at least see 904 hopefully today.
sam
Jay - did you see Ian's CB post?
http://timeandcycles.blogspot.com/
are you clsoing your shorts today or wait for AM
sam
You could have written Ian
6/18-19 low
and 25/26 low
However, Im selling some puts to get some working cash
Jay
I am holding onto july puts but sold june ones. too risky
sam
About IAN:
If I recall Ian was singing up up away and blue skys ahead and all kinds of euphoric positive mumbo jumbo BEFORE the markets tanked bigtime for 17 months. Be careful following his MC. Like he said, when it's on , it's on but when it's not, holy smoke , watch out. More than enough good people had March 6 - like Jay - in the gun-sights so you don't need his MC. Ian leaves a bitter taste in my mouth because he acts liek he's always right but wrong many times and he's so vague with lows and highs.
just my 2 cents worth.
Mark
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