chart from Kenny's blogcounting yesterdays close as a 5th wave might be a bit short sighted
After a shock like yesterday we might think there should
be more drift lower and thats very possible today
couple of things I track lead me to look for drift lower
I track a 13 day cycle which You may be aware of
called the JAYWIZ cycle
IT HIT exactly at NOON yesterday, but did NOT stop the MKT
from heading lower afterward
ITS A 13 day cycle which I have broken into its FIBO parts
The NEXT MAIN STOP of that cycle is on THURSDAY at 10:30
BUT
in between, is another POSSIBLE stop at 10am on the 28th, which could lead to
a strong rally for the day till 2-3pm as I have posted several times
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So whats next?
DRIFT LOWER today, with some attempts at minor upswings
a Jaywiz cycle low at 10am tomrrow with a STRONG attempt to run it up till 2-3pm
a Jaywiz cycle low at 10:30 Thursday & rally which might up hold all day
but that means the 30th should start lower into that NOV2nd LOW on the radar
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basically its my heading-- SELL THE RALLIES till NOV 2nd LOW
Jay
18 comments:
ok thanks for the update i was confused I thought today was the day that we had the big up after the open
OK, ThERE we have the 39 hour cycle at 10am ONCE AGAIN
2days in a row UP, should get us 2 days in a row opening down as per the Jaywiz index
And now we drift lower after 10am
1061 is next fibo level
then 1056
I dont expect any more than that as rrman also mentioned
Flash projected 1083 for possible rally attempt this week, and according to my post, that should be tomrrow afternoon
Jay
since 150 bars hit yesterday at 3:30, and 156b@4pm was a non event, then we should NOW look for 180 bar low at 11am, which is a daily hourly turn also
204b@ 1pm
228b@ 3pm
Jay
covered short went long /es 1061.75 for a scalp
So the market will be lower on Nov 2nd than it is right now???
/dx 15" still has a lot to go down but /es is close to bottom I will take the /dx think we got some ways to go up on /es will hold longs for a bit
hi Jack
NOV 2nd IS the CYCLE pivot
LOW date and possibly the open for the 3rd as an intraday low and PIVOT higher to the 6th.
Ive posted several times the convergence of cycles on NOV2nd.
Flash has NOV 2nd also, as do some other tech letter writers
such as Stan Harley as an 81 tr day cycle low to low from July8th.
which was the LAST critical turn
Do you have any data or info that
negates that forecast?
Jay
closed long went short 1065.25 we may have some more up but trend is down i think today
i think we chop around this area until after lunch the 5" stoch has to burn off some upward trend but the 15" is curling down it should rule the move
We're likely to close positive today, but it's not a big deal. Down tomorrow. If your following the dollar, SMN, inverse basic materials ETF, would be an easy play. Doesn't care if industrials are up.
get ready the drop is coming...
rrman
we got the 11am dip as per the bar cycles
next one is not due till 1pm
hod might occur between 2 & 3 pm
jay
thanks Jay I am just going to hold my shorts I don't think it makes much of a high so not worth trying to ride it ..
Jay,
What is Hadik saying??? Doesn't he have a 2CR on a weekly close below 1070, which is very bearish??
Jay you still thinking 1pm eastern for the bottom of the dip?
ok covered short and went long 1063.25 to play Jay's dip
I'm looking to 14:20 for a high, may be the high of the day.
got out of my faz in my ira
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