Jay, I am bit confused with this chart - are you expecting the wedge to breakdown some time between Sep 25- oct 2? In your earlier post you mentioned you would be buying Friday (sep 25) close. Also, is there any significance around Oct 6/7?
No downside projections and yes because I just follow cycles. So I guess I'm mainly a timer. Lots of traders here and elsewhere have them--no big deal. I lean more to using Bollinger Bands, Moving avgs, Prior cycle pivot points. Moving avg. envelope is a good one too -- for a quick visual target approximation.
Ofcourse there are fib retrace, Gann lines, trendlines pattern projections, EW projections, point&figure, etc etc, omg I just keep it simple and that's mainly cycle pivot points.
activity index was at 100 all morning and jumped to 200 at 11am along with the hourly turn
Has now backed off just a little to 166
Propens in on an INCLINE from 3008 on the 21st to 2992 tomrrow
power index flat @450 during the day, but drops more later to350 Opens tomorrow at 325, but stays within a narrow range 25th opens at 300, but moves higher to 400
Dear Members, As per our newsletter, our trading range of Monday and Tuesday fulfilled in metals. We expected higher side gold $1015 and silver $17.23 and at this stage both trading little bit above what we mentioned. From late tomorrow to mid Friday are very negative days so trade carefully. We recommend selling in gold around $1119.80 and silver $17.33. Copper is a great short around $288.20.
Stock markets are moving higher, we expect profit booking soon coming in USA market but still all major markets (Asia, europe and USA excpet China, Taiwan and India) can remain up for the next one week before they melt down (it doesn't mean that you buy, one should take puts options as they all can fall any time). Our first day is Sep 29 and Second one is first week of October and final one is 13 October from 1000% market will fall without any doubt.
In our weekly newsletter, we recommended buying in oil from Tuesday or early Wednesday so one can take position in oil. Natural gas will come from late evening so sell natural Gas around $3.80 (current contract).
Still our recommendation in grains is stay sideways, soon time is coming and we already mentioned in this week letter. We will come out with update as per our newsletter.
Avoid trading in soft commodities from late today as sugar, coffee and cotton will fall from here.
Dollar is trading lower and it touched last week low of 76.22, once again great opportunity to build position here. I don't feel fear to call that soon Euro and Pound will be par value against USD.
FROM MAHENDRA: Tomorrow is rate decision, and I strongly recommend that one should start buying DOLLAR after announcement.
Subcribe weekly newsletter or flashnews to get daily updates.
Thanks & God Bless SHARMA MAHENDRA, Tuesday 6.50 AM www.mahendraprophecy.com
Damnnnnnn I hate this market! Shorted more this morning and yesterday and am now underwater. I hope this crash you're talking about comes soon. I've been hearing that 1073 is a possible top...hope so.
SOMETHING TO THINK ABOUT: shortlong 2 minutes ago Market has excuse to go up or down after the fed story. If no change in interest : go up as usual. or go down because the fed is not convinced of the recovery If int. rate sheduled to go up: go up as the recovery is cast in stone. go down as the sky is falling and inflation is here.
lOOKS LIKE THEY ARE PAINTING THE MARKET GET THE WEAKONES OUT OF THE WAY. IT IS GOING TO MAKE A FAKE MOVE AFTER THE FED STORY IN EITHER DIRECTION AND SURPRIZE IN THE OPPOSITE DIERECTION . I WOULD NOT TRUST THE FIRST 5 MINUTES OF MOVE.
if you take the move from the march lows until 5th june top you have 63 traded days.if you then count from the july bottom forward, 63 trading days will take us to october 7th,which ties in nicely with the "final thrust" scenario and lovely bit of symmetry.nice thought.
So, we'll either go up or down. Awesome. The market seems to have trouble climbing over 1074. I'm short just because thin volume up here makes me think a pop if any will get crushed by the close.
Hi Jay, Ravi and all. If Earnings: 10/12 GS 10/14 C and JPM 10/15 BAC and of course October 16 OPEX go well the drop from OCT 10-16th as predicted by Jay may not work out and will be pushed out. What Im trying to say is if the number look good or better than what the market expects we wont go down hard OCT 10-16th. It may happen sooner, say 1st week of OCT. Just a thought, anyone know what the assumed reports will look like Pos/Neg ??
23 comments:
Cal,
Any downside projections, or do you
just follow the cycles? Thanks
Jay,
I am bit confused with this chart - are you expecting the wedge to breakdown some time between Sep 25- oct 2? In your earlier post you mentioned you would be buying Friday (sep 25) close.
Also, is there any significance around Oct 6/7?
Thanks for your good work.
Gary
Victor,
No downside projections and yes because I just follow cycles. So I guess I'm mainly a timer. Lots of traders here and elsewhere have them--no big deal. I lean more to using Bollinger Bands, Moving avgs, Prior cycle pivot points. Moving avg. envelope is a good one too -- for a quick visual target approximation.
Ofcourse there are fib retrace, Gann lines, trendlines pattern projections, EW projections, point&figure, etc etc, omg I just keep it simple and that's mainly cycle pivot points.
Cal
Thanks Cal.
Gary
I posted the chart for info.
I did not create that chart
IT just points out a peaking WEDGE possible between 9/25 and 10/5
It doesnt change what ive already posted several times
9/25 has a fibo cycle convergence and should pivot off a low at 10am
10/2 has another fibo cycle low
and we should get the final THRUST
to oct7 -9
A low this Friday morning should get a rebound into the morning of the 30th, and another setback into oct2nd
THE above WILL NOT PRODUCE much $ for traders as the moves will
be subdued within the rising WEDGE
THE BEST SHORT of 2009 will be on OCT9th, to cover on the 16th.
Jay
activity index was at
100 all morning and jumped to 200
at 11am along with the hourly turn
Has now backed off just a little to
166
Propens in on an INCLINE from 3008 on the 21st to 2992 tomrrow
power index flat @450 during the day, but drops more later to350
Opens tomorrow at 325, but stays within a narrow range
25th opens at 300, but moves higher to 400
Jay
This down from the start is starting to let up
Dear Friends,
Here is Tuesdays update.
Dear Members,
As per our newsletter, our trading range of Monday and Tuesday fulfilled in metals. We expected higher side gold $1015 and silver $17.23 and at this stage both trading little bit above what we mentioned. From late tomorrow to mid Friday are very negative days so trade carefully. We recommend selling in gold around $1119.80 and silver $17.33. Copper is a great short around $288.20.
Stock markets are moving higher, we expect profit booking soon coming in USA market but still all major markets (Asia, europe and USA excpet China, Taiwan and India) can remain up for the next one week before they melt down (it doesn't mean that you buy, one should take puts options as they all can fall any time). Our first day is Sep 29 and Second one is first week of October and final one is 13 October from 1000% market will fall without any doubt.
In our weekly newsletter, we recommended buying in oil from Tuesday or early Wednesday so one can take position in oil. Natural gas will come from late evening so sell natural Gas around $3.80 (current contract).
Still our recommendation in grains is stay sideways, soon time is coming and we already mentioned in this week letter. We will come out with update as per our newsletter.
Avoid trading in soft commodities from late today as sugar, coffee and cotton will fall from here.
Dollar is trading lower and it touched last week low of 76.22, once again great opportunity to build position here. I don't feel fear to call that soon Euro and Pound will be par value against USD.
FROM MAHENDRA: Tomorrow is rate decision, and I strongly recommend that one should start buying DOLLAR after announcement.
Subcribe weekly newsletter or flashnews to get daily updates.
Thanks & God Bless
SHARMA MAHENDRA, Tuesday 6.50 AM
www.mahendraprophecy.com
Weren't we supposed to be down substantially from the start??
What happened??
Damnnnnnn I hate this market! Shorted more this morning and yesterday and am now underwater. I hope this crash you're talking about comes soon. I've been hearing that 1073 is a possible top...hope so.
dg
SOMETHING TO THINK ABOUT:
shortlong 2 minutes ago
Market has excuse to go up or down after the fed story.
If no change in interest : go up as usual. or go down because the fed is not convinced of the recovery
If int. rate sheduled to go up: go up as the recovery is cast in stone. go down as the sky is falling and inflation is here.
If this is top it will go down
OTHERWISE WE SEE 1080 AND MORE IN FEW MINUTES.
lOOKS LIKE THEY ARE PAINTING THE MARKET GET THE WEAKONES OUT OF THE WAY. IT IS GOING TO MAKE A FAKE MOVE AFTER THE FED STORY IN EITHER DIRECTION AND SURPRIZE IN THE OPPOSITE DIERECTION . I WOULD NOT TRUST THE FIRST 5 MINUTES OF MOVE.
if you take the move from the march lows until 5th june top you have 63 traded days.if you then count from the july bottom forward, 63 trading days will take us to october 7th,which ties in nicely with the "final thrust" scenario and lovely bit of symmetry.nice thought.
So, we'll either go up or down. Awesome. The market seems to have trouble climbing over 1074. I'm short just because thin volume up here makes me think a pop if any will get crushed by the close.
I reduced half of my short and wait for the next 10 minutes. you can always catch the running train. miss few points, so what?
loooks like the spike is over. bears better show up now or we go to 1120
Up from the start with no let up!
VC system is still long from 42.32
and stop is now 42.53 and rising.
Wish I would've taken this trade.
DJI had a H&S in intraday chart since thursday
Target 9955 or so
DJI had reverse H&S last few days indraday.
Target around 9955
will add short at 1087 if it gets there,if not, still short from 1063.7 and will add only on the way through.
Does anyone here ever go long? Too funny.
Hi Jay, Ravi and all. If Earnings: 10/12 GS 10/14 C and JPM 10/15 BAC and of course October 16 OPEX go well the drop from OCT 10-16th as predicted by Jay may not work out and will be pushed out. What Im trying to say is if the number look good or better than what the market expects we wont go down hard OCT 10-16th. It may happen sooner, say 1st week of OCT.
Just a thought, anyone know what the assumed reports will look like Pos/Neg ??
Thanks
Joe
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