Kathy GOOD QUESTION If it stays UP today at close, as the activity index is NOT budging off its 133 level, which is NOT very high, but not giving way either THEN The POWER INDEX SHows the POTENTIAL FOR a very shrply LOWER OPEN Friday with a recovery by mid day.
Propens index also showing a dip possible late today and or early tomrrow
Jay I tried to add more at 1;30 when the dow was up 130, but couldnt buy at my price
Its NOW 3;30 and there is some neg energy taking over. DOW now up 65 which is 65pts off the high at 1;30
A lower close should set up a lower open.??
Power index TOMRROW opens at 300 then jumps to 500 midday and 400 by days end
We did a 5 wave up to 956. By making a new high it satisfies the barest minimum need for end of v, even if it is short of v=i at 962.
IF v has more to go, it will be lot more because today's hi may morph into just the minute first wave of v. That will be lot higher than 962.IF 956 was the end of v, we better get a clear impulse down tomorrow. IF not we have third of v tomorrow.
I dont think I remember saying a GAP UP OPEN anyday this week, but a stronger open we got on WEd & Thsday as suspected, each to be sold at highs at 950 or above??
ITs NOW looking like possible GAP LOWER ON FRIDAY open???
NOT much NEWS comes out at 8:15 Friday as a catalyst
but Power index shows Friday higher just the same, but after a probable lower open.
If the recovery wave tomrrow gets to 950 level and gets stuck there, it will keep the BULLS THINKING they are alive over the wkend
OK its now 3:55pm, yes there it GOES where are you now CHEIFY- dow only up 24 this is exactly what the PROPENS index showed, but its HELL WAITING FOR IT TO HAPPEN ITS very hard to tell if it overlaps into tomrrow's open because the deliniation of time & date is NOT exact. but it does head lower as it occurred today and does appear to continue tomrrow. HOWEVER, there is a SHARP recovery shown also right after
SO, ANY GAP LOWER open might not last very long - may 9:45am to10
just looked at DYNAMIC index which DROPPED like a rock at close thats real time, so it has no effect on tomrrow
AT close today we gave up 100 points and the WAVE looks like a possible 3rd down at close with a little more room for more at open. support has been found at 8630 area spx 928 area all week
OBv on 10day/15 min IS DOWN MACD rolled over ULT osc has rolled over
OBV on this chart hit its HIGH on TUESDAY June2nd @ 129,127,000 and has been failing since now at 36,890,000
Similar for ULT osc also
GAME plan to SELL out short My positions on any sell off at open and buy back at close, or anytime the spx gets to 950 or above, which THIS TIME< IT MAY NOT GET THERE.
I do not have guts to go long tomorrow. any bad news (N. Koreans acting bad or something) it can tank without regards to EW as it is ripe to breakdown.
if at all i would do it with the tihgtest stoploss.
12 comments:
Dear JAY.
Do you still think the market will have a gap up open tomorrow. The sell signal is there.
Thanks
Kathy
I bought 952 some SRS call, spx july puts, and gs july puts. May be on monday buy june puts but do not have guts to june puts today.
sam
I expect another day for longs tmrw Fri. Jay is right.
Next week may see some dips...
pk
Kathy
GOOD QUESTION
If it stays UP today at close, as the activity index is NOT budging off its 133 level, which is NOT very high, but not giving way either
THEN
The POWER INDEX SHows the POTENTIAL FOR a very shrply LOWER OPEN Friday with a recovery
by mid day.
Propens index also showing a dip possible late today and or early tomrrow
Jay
I tried to add more at 1;30 when the dow was up 130, but couldnt buy at my price
Its NOW 3;30 and there is some neg energy taking over.
DOW now up 65 which is 65pts off the high at 1;30
A lower close should set up a lower open.??
Power index TOMRROW opens at 300
then jumps to 500 midday and 400 by days end
Jay
Hi Jay:
We did a 5 wave up to 956. By making a new high it satisfies the barest minimum need for end of v, even if it is short of v=i at 962.
IF v has more to go, it will be lot more because today's hi may morph into just the minute first wave of v. That will be lot higher than 962.IF 956 was the end of v, we better get a clear impulse down tomorrow. IF not we have third of v tomorrow.
So, a big down or big up tomorrow.
Ravi
Okay guys. If it gaps up, I short-scalp and buy the dip for the recovery.
If it gaps down then I buy the dip and ride him into lunch break.
Thanks fellas
Kathy
Finally close in green. same plan as cathy. gap up -- take vacation until next week. gap down, cash in the puts and buy later.
good luck to all
sam
I dont think I remember saying a GAP UP OPEN anyday this week, but a stronger open we got on WEd & Thsday as suspected,
each to be sold at highs at 950 or above??
ITs NOW looking like possible GAP LOWER ON FRIDAY open???
NOT much NEWS comes out at 8:15 Friday as a catalyst
but Power index shows Friday higher just the same, but after a probable lower open.
If the recovery wave tomrrow gets to 950 level and gets stuck there, it will keep the BULLS THINKING they are alive over the wkend
OK its now
3:55pm, yes there it GOES
where are you now CHEIFY- dow only up 24
this is exactly what the PROPENS index showed, but its HELL WAITING FOR IT TO HAPPEN
ITS very hard to tell if it overlaps into tomrrow's open because the deliniation of time & date is NOT exact.
but it does head lower as it occurred today and does appear to continue tomrrow.
HOWEVER, there is a SHARP recovery shown also right after
SO, ANY GAP LOWER open might not last very long - may 9:45am to10
just looked at DYNAMIC index which DROPPED like a rock at close
thats real time, so it has no effect on tomrrow
AT close today we gave up 100 points and the WAVE looks like
a possible 3rd down at close with a little more room for more at open. support has been found at 8630 area spx 928 area all week
OBv on 10day/15 min IS DOWN
MACD rolled over
ULT osc has rolled over
OBV on this chart hit its HIGH on TUESDAY June2nd @ 129,127,000 and has been failing since now at 36,890,000
Similar for ULT osc also
GAME plan to SELL out short My positions on any sell off at open and buy back at close, or anytime the spx gets to 950 or above, which THIS TIME< IT MAY NOT GET THERE.
Jay
kathy & Sam
Sounds LIKE a PLAN
Jay
I do not have guts to go long tomorrow. any bad news (N. Koreans acting bad or something) it can tank without regards to EW as it is ripe to breakdown.
if at all i would do it with the tihgtest stoploss.
sam
Sam , I agree
would rather stay short
However, I really cant put my stamp on the OPEN.
BUT I can tell you this
june12th is an 8 day HIGH
June15th is an 8 day TURN lower
Now, we might get a high and turn on the 12th
which is what BOTH the power and Propensity indexes are now confirming
SO, If I dump my shorts at open, i will be buying back mid day
probably 1 - 2pm
30bars @ 11am
60bars @ 1:30
90 bars at CLOSE and OR open Monday
hourly
9:45
11am
1pm
3pm
SPX might attempt to get another higher high in tomrrow, but it will also FAIL and start down into the close according to both the indexes above.
more later
Jay
JAY,Kathy,Sam,all,
Thanks for all comments.
Got to admit market has got me scared!
Really good to read all your comment, THANKS for sharing what you know.
Pete
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