I'm looking for a small 38%-50% retracement backup... only if the jobs numbers come in under 500k. If they are over 520k, then I look for more selling. I also think that many of the big boys will sell on Friday as they don't want to be long over the weekend. At least not at this high levels.
The market hit the 110.31 level yesterday and then fell back. I think that's it for now. If this were a war game, then the bulls should retreat a little and make another push at breaking 110.34 (as I mentioned on my weekend post). In another half an hour we'll know what the jobs number's are. I expect the government to lie as usually, just how much is the question?
I hope...no I pray for any retracement today so I can load up 10 dump trucks worth of shorts. Please, pretty please ms. market...let me back in some more at higher prices. PLEASE!!!!!!!
Any rally you give me today is appreciated. I know you can do it.
Headfake, Ive mentioned XII in the past, Mike from www.mikevadon.blogspot.com agrees as well. Were going higher, I do agree we will retreat but not just yet. Looking for dnside in Nov
Anthony that didnt turn out as expected; however, shorting at 2;20pm, and or close today should provide better results
I was OUT of the OFFICe this AM, and did not have a chance to my close short position
BUT tomrrow's open should GAP lower. I guess that means higher unemployment numbers if we are looking for a catalyst.
FROM the HIGh at 10:45 Yesterday at 1101.36, it does look like a clear 5 waves to this morning at 1074.31 thus a 3 wave -abc- rebound is now in progress
using fibo math we can now guesstimate where the high should be
27.05 pts lost doesnt give much room for play, and the SPX has been HUGGING that 1081 line and has been GLARINGLY LOWER than the DOW.
23.6% retrace = 6.38 = 1080.69 38.2% = ditto = 10.31 = 1084.62 So far they got to 1083.75= to the 4th wave rebound at today's open.
SO, basically as far as Elliott wave , this would appear to be a simple zigzag as above, and once done, then of course wave 3 takes over.
And as far as human emotion, it would appear as a 2nd wave also where traders are waiting for SOMETHING - AND HIGH HOPES is NOT going to matter at all.
Times for today
Jaywiz cycle @ 10:43- was a pivot low
228bars at 1pm 258bars at 3:30 which just might allow for a higher close, or just the HOD for today.
the hourly and 15" stoches on /es are at the top and the /dx 5", 15" and hourly are at the bottom with the 5", and 15" curling up ....the fall this afternoon should be very nice and long when the dollar starts its trip up
I agree. Hoping for bottom in place and a higher high right now is precisely what's going to drive the next wave down. So we're getting a beutiful example on how great earnings are being sold off and not bought which is why you can't use them as for trading.
Disagree to a certain degree Jsphiafg, Big money is still buying, just not as much. Like I said, Check Xii..... Long till the end of OCT unless certain lines are brkn...
The AMEX Institutional Index is a capitalization-weighted index of 75stocks most widely held as equity investments among institutional equity portfolios
Let's try again...my pee pee says gap down huge again tomorrow and selloff into close. Sol's target is 1064 for tomorrow so we remain heavily short from es 1081.
sickening rally from lows again.bears may as well p*ss in the wind.the only way i can possibly count this in ew terms is to say the 19th lows were wave 4 and now in a type of 5th wave truncation,if we make new highs i give up with elliott.its not something i would ever use solely anyway.i just think the world is saturated with people looking for 5 up 3 down.
Chart from MARKET Thoughts - see link on main page
28 comments:
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we will all benefit
Jay
Jay,
I'm looking for a small 38%-50% retracement backup... only if the jobs numbers come in under 500k. If they are over 520k, then I look for more selling. I also think that many of the big boys will sell on Friday as they don't want to be long over the weekend. At least not at this high levels.
The market hit the 110.31 level yesterday and then fell back. I think that's it for now. If this were a war game, then the bulls should retreat a little and make another push at breaking 110.34 (as I mentioned on my weekend post). In another half an hour we'll know what the jobs number's are. I expect the government to lie as usually, just how much is the question?
Red
I hope...no I pray for any retracement today so I can load up 10 dump trucks worth of shorts. Please, pretty please ms. market...let me back in some more at higher prices. PLEASE!!!!!!!
Any rally you give me today is appreciated. I know you can do it.
Alvin
is anybody long right now?
x
The highest numbers today are less than 10 minutes after the opening bell. We're down today, big time.
The lowest numbers today are after the closing bell. Maybe that's because you don't have to fight Government Sach's.
I love YOU Coy!!
Natasha
Thanks Coy
'Buy the 21st at 11:30
sell 22nd mid-day""
21st @ 11:30= 1095 ESZ9
current 1079
Coy or anyone.
I'm starting to load up on shorts now and will really load up heavily between 1:00 and 2:00.
Do you see a high around this time?
thanks
Carl
Carl I think 1080/81 is which is where we are right now is the high looks like down all afternoon to me
Carl,
See my post above. Jay said he was
buying 21st at 11:30
selling mid-day 22nd
buying 26th
rrman & anthony
ok thanks. I'm stepping up my short positions.
I don't think you can go wrong anywhere around here or higher if it wants go a little more.
carl
Headfake, Ive mentioned XII in the past, Mike from www.mikevadon.blogspot.com agrees as well. Were going higher, I do agree we will retreat but not just yet. Looking for dnside in Nov
Thanks
Joseph
Anthony
that didnt turn out as expected;
however, shorting at 2;20pm, and or close today should provide better results
I was OUT of the OFFICe this AM, and did not have a chance to my close short position
BUT
tomrrow's open should GAP lower.
I guess that means higher unemployment numbers if we are looking for a catalyst.
FROM the HIGh at 10:45 Yesterday at 1101.36, it does look like a clear 5 waves to this morning at 1074.31
thus a 3 wave -abc- rebound is now in progress
using fibo math we can now guesstimate where the high should be
27.05 pts lost doesnt give much room for play, and the SPX has been HUGGING that 1081 line
and has been GLARINGLY LOWER than the DOW.
23.6% retrace = 6.38 = 1080.69
38.2% = ditto = 10.31 = 1084.62
So far they got to 1083.75= to the 4th wave rebound at today's open.
SO, basically as far as Elliott wave , this would appear to be a simple zigzag as above, and once done, then of course wave 3 takes over.
And as far as human emotion, it would appear as a 2nd wave also where traders are waiting for
SOMETHING -
AND HIGH HOPES is NOT going to matter at all.
Times for today
Jaywiz cycle @ 10:43-
was a pivot low
228bars at 1pm
258bars at 3:30
which just might allow for a higher close, or just the HOD for today.
Jay
the hourly and 15" stoches on /es are at the top and the /dx 5", 15" and hourly are at the bottom with the 5", and 15" curling up ....the fall this afternoon should be very nice and long when the dollar starts its trip up
Jay
I agree. Hoping for bottom in place and a higher high right now is precisely what's going to drive the next wave down.
So we're getting a beutiful example on how great earnings are being sold off and not bought which is why you can't use them as for trading.
Jsphiafg
Jay looks like your right on I went long /es 1079
out of long and now short /es 1087.25
Disagree to a certain degree Jsphiafg, Big money is still buying, just not as much. Like I said, Check Xii.....
Long till the end of OCT unless certain lines are brkn...
The AMEX Institutional Index is a capitalization-weighted index of 75stocks most widely held as equity investments among institutional equity portfolios
i think we range between 1086 and 1087 rest of day and tommorrow
Jay
I think you MISSED another bottom today. The Bears are fricked.
george h
Awful lot of late shorting going on here...lol
The trade says we see new highs and go long but I dont have the guts to do so!
covered long from 1086 and going short at 1091 per Jay's high of day call
good trade rrman. thanks jay
Let's try again...my pee pee says gap down huge again tomorrow and selloff into close. Sol's target is 1064 for tomorrow so we remain heavily short from es 1081.
atilla
sickening rally from lows again.bears may as well p*ss in the wind.the only way i can possibly count this in ew terms is to say the 19th lows were wave 4 and now in a type of 5th wave truncation,if we make new highs i give up with elliott.its not something i would ever use solely anyway.i just think the world is saturated with people looking for 5 up 3 down.
Yeh baby, go Longs go... why fight the trend. Long till end of OCT, then will see how things work out. GDP on OCT 29th will be positive as well..
Watch Xii as well as other indicators that track big money buying. Anyhow, for the TSX, 11150-11300 if brks start worrying and protect capital...
Thanks
Joe
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