RRMAN -Yes, and I REALLY SHOULD BE ADDING MORE shorts but I wont
RAVI - its 3;30pm theres the WAVE v high on CLOSE today, unless they deteriorate after 3:30pm
3pm low as 126 bars next 150 bars is on Monday @10:30 180bars @ 1pm 204b@ 3pm
yuo can convert bars to hours by starting at 252 bars on the 29th at 4pm
258 was supposed to hit at 10am on the 30th, but it was obviosuly truncated There is a BREATHER every 2.5 hours sometimes its 2 hrs and sometimes its 3hrs, but on average its 2.5hrs
Thanks Jay. have good time and lots of hugs from your grand child. man we all need hugs now. may ms mkt will deliver by 8/5 or the in the next 20 minutes.
Your comment "RAVI - its 3;30pm theres the WAVE v high on CLOSE today, unless they deteriorate after 3:30pm"
I thought you see yesterday's high as wave v and (v) hi.
I have been pointing out that we have been doing corrective wave since yesterday's hi, therefore we have been in iv and may do a new hi on Monday. If so, the B from there should take few days.
delta,bradley,fib timing and jay's cycles are all back in unison,that wednesday should be the low of this move give or take a few hours so holding short now from 987 cash.may god have mercy on us all lol!
In my work, Monday sees a pullback at open, then BUY the early morning pullback for a scalp possibly to new highs, then looking to short later same day. This is inline with Ravi's wave 5 count followed by a cotrrection of 2-3 days next week. Wave 5 could be truncated as well. Very choppy these days as we get closer to "DA TOP" as some call it. Not a coincidence EVERYBODY have only begun to turn wildly bullish.
To be precise 8960-8965 is the level we needed to close today. We didn't so xtrends are invalidated. I have capitulated and am now bullish. I will now post my first bullish chart in many months.
DIGEST FROM OTHER BLOGS; http://danericselliottwaves.blogspot.com/
ravi, what do you think is down side if the DANERIC'S count of five wave down impulse move is correct? The leading diagonal I charted often happens off the top of significant market tops. It forms because there are still laggard bulls rushing in at the end. Yet the subwaves of the leading diagonal are clearly impulsive down. Today's lazy subwaves up is also more late-comers to the party. Its the end of the month and lately the "new month selloff" has not worked. However the market likes to alternate so we may now be due for a start of the month selloff.
But again, the important part is that the market is starting to clearly sport some clean 5 wave structures down and that I think is cluing us in on the change in direction. It hasn't done this since the 869 low so its a bit of evidence that the corrective Minor B wave has started. Monday should give confirmation. If not, well sheesh....bulltards hehe!
FROM COBRA;
http://cobrasmarketview.blogspot.com/ Here’s another reason that we might see a red Monday: Both VIX and SPX were green today, by counting red vertical lines below, 9 of 12 times, the next day was closed in red. Plus several other reliable overbought signals which I’ll talk in the weekend report
One question for you which I don’t have any answers: Why did TLT rise this much recently? Since most people now believe we’ll see SPX 1200 pretty soon, why bother buying bond which may go sharply lower if SPX does go to 1200?
FYI
17 comments:
Jay so you are holding your shorts thru the weekend?
woops sorry I see on the previous post we are holding until the 5th
thanks Jay
RRMAN -Yes, and I REALLY SHOULD BE ADDING MORE shorts
but I wont
RAVI - its 3;30pm
theres the WAVE v high
on CLOSE today, unless they deteriorate after 3:30pm
3pm low as 126 bars
next
150 bars is on Monday @10:30
180bars @ 1pm
204b@ 3pm
yuo can convert bars to hours by starting at 252 bars on the 29th at 4pm
258 was supposed to hit at 10am on the 30th, but it was obviosuly truncated
There is a BREATHER every 2.5 hours
sometimes its 2 hrs and sometimes its 3hrs, but on average its 2.5hrs
ITS THE MKT RYTHM or how it breathes
Jay
Thanks Jay. have good time and lots of hugs from your grand child. man we all need hugs now. may ms mkt will deliver by 8/5 or the in the next 20 minutes.
sam
FROMM MAHENDRA'S BLOG:
Eclipse effect coming, our theory says, within three trading sessions major crash like august 2008......More - Friday, July 31, 2009, Sharma Mahendra
http://www.mahendraprophecy.com/
SAM
Jay:
Your comment "RAVI - its 3;30pm
theres the WAVE v high
on CLOSE today, unless they deteriorate after 3:30pm"
I thought you see yesterday's high as wave v and (v) hi.
I have been pointing out that we have been doing corrective wave since yesterday's hi, therefore we have been in iv and may do a new hi on Monday. If so, the B from there should take few days.
Ravi
thanks Sam keep posting I love
MAHENDRA
rrman
do u have subscriptions to Mahendra
delta,bradley,fib timing and jay's cycles are all back in unison,that wednesday should be the low of this move give or take a few hours so holding short now from 987 cash.may god have mercy on us all lol!
Here is an intraday update from Ian: 8/3 or 8/5 is our day. I would wiat for 8/5
CITs: 10.45, 12.35, 1.30 pm
Intraday Pattern: 10.00H, 11.00L, 12.30H, 2.30L, 3.50H
Actual: 9.50HOD (sofar), 10.10LOD (sofar), 1.05 CIT High, 12.45 Low, 1.25 Low
NDX Continuous weekly has a Brick wall at the 1635-55 area.
We touched 1632 at yesterday's intraday High.
If it can overcome that, it would be very bullish.
Markets are rallying as expected by the MC, which saw a direct hit on the 7/29 Low.
If we close near the highs today,we would have the July Month close near its Highs, a bullish signal for next month.
The MC suggests Monday 8/3 could be down, only to make a higher High on 8/4 and retest the Lows on 8/5 Low.
Mike
Mahendra posts a free snippet from his newsletter every week on his website.
Chris
Dow closes above 9000 today proves xtrends are invalid. Next move is to cover shorts for next move up.
In my work, Monday sees a pullback at open, then BUY the early morning pullback for a scalp possibly to new highs, then looking to short later same day. This is inline with Ravi's wave 5 count followed by a cotrrection of 2-3 days next week. Wave 5 could be truncated as well. Very choppy these days as we get closer to "DA TOP" as some call it. Not a coincidence EVERYBODY have only begun to turn wildly bullish.
peterK
Jay,
You posted a chart without your comments............ Hail....
To be precise 8960-8965 is the level we needed to close today. We didn't so xtrends are invalidated. I have capitulated and am now bullish. I will now post my first bullish chart in many months.
atilla
DIGEST FROM OTHER BLOGS;
http://danericselliottwaves.blogspot.com/
ravi, what do you think is down side if the DANERIC'S count of five wave down impulse move is correct?
The leading diagonal I charted often happens off the top of significant market tops. It forms because there are still laggard bulls rushing in at the end. Yet the subwaves of the leading diagonal are clearly impulsive down. Today's lazy subwaves up is also more late-comers to the party. Its the end of the month and lately the "new month selloff" has not worked. However the market likes to alternate so we may now be due for a start of the month selloff.
But again, the important part is that the market is starting to clearly sport some clean 5 wave structures down and that I think is cluing us in on the change in direction. It hasn't done this since the 869 low so its a bit of evidence that the corrective Minor B wave has started. Monday should give confirmation. If not, well sheesh....bulltards hehe!
FROM COBRA;
http://cobrasmarketview.blogspot.com/
Here’s another reason that we might see a red Monday: Both VIX and SPX were green today, by counting red vertical lines below, 9 of 12 times, the next day was closed in red. Plus several other reliable overbought signals which I’ll talk in the weekend report
One question for you which I don’t have any answers: Why did TLT rise this much recently? Since most people now believe we’ll see SPX 1200 pretty soon, why bother buying bond which may go sharply lower if SPX does go to 1200?
JAY MAY BE LATE BUT NEVER WRONG
GO JAY
sam
My new project is day-timing.
These are my lows and highs of the day:
Lows: 10:16, 12:30(lowest), 12:45.
Highs: 11:38(highest), 15:04.
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