WOW, I did not know you had a blog, wish you would of mentioned it to me!!I added you to my favorite blog list!!!Michael
So we're still in a downtrend til Monday right? So are u covering your shorts at 10:27am? Wow such accuracy.
I guess we can forget about that gap-down some were expecting. It is up up and away.peter
well don't forget we went down to 1067 the night Dubai came out and we recovered might be just the opposite
Flasfusion's SIMON just got ass-reamed tonight. So much for that. Can't trust that guy ever again!sam
Fut's ain't stopping yet. Looks like a runaway train. Whoever was short is really in deep dooodoo. I wish I could say I was long but not to be.Man.mortie
thanks MichaelAppreciate the linkJay
Jay, whats your thoughts after this ramp? Gap fill back to around 1101 ish by 3pm then ramp back up for rest of week?
monkeys pumping futuresGS & AAPL are red
morning all,hope you had good weekends.looking to get long here soon.provisionally hoping for a high around 11,which could be the high for the day.that 2 oclock low ties in with my ideas for a low as well.
Welcome # 85 & 86I think it was TO & Michaeland thanks for the great commentaryWe need to keep our heads on straight and the input is very insightfulTHe tide has NOT turned, and probably wont until the 24th, but IN THE MEANTIME, we still seem to be locked into that ELLIPSE with resist at 1119 & support at 1085The break out on the 9th was at 1070, and its been mentioned it a few timesA high did occur on the full moonon DEC 2nd and now we are approaching a new moon on Wed.Today is working toward a 10am high at this writing, but so far has fallen quite short of the potential indicated by the pre open futuresJay
Arakas usual - tomrrow is another fed day so we should see a positive trend till 2;15pm TuesdayJay
Here are de-lever points on two issues:DIA: 10,186AAPL: 183.6 (97.3% chance by friday)We the recent pump of the futures by the monkeys overnight we've got a 1-2-3 pump n dump for the week.
I think BULLS in serious trouble here. I'm ignoring Jay's ebnergy chart because I don't think there is anyway in poopersville we're going to a 22nd high.bob
Jay,FOMC is 15/16 ... so rally should come into the 16th 2:15pmThere is another thing I have noticed. The mkt never goes down when banks want to raise money. The last time it happened was in Jun when they kept it around SPX950. This time BAC is done, but C needs to raise $18B. They mkt will drop only when C is done raising. And in between we have FOMC setting the stage for a crude/commods rebound based on dollar weakness. So 21-23 could be the C raise. I'm betting it would be 21 or 22.I have stopped trading this crappy chop zone. Not worth the aggravation.
chart is upside down ?
WFC is the next to raise money. God knows when this will happen.
Market is setting up for powerful breakout. We are holding above 1110 which is bad news for the bears. Tomorrow should be trend up the way its looking.
Deja vu Opex Monday, albeit with less upward momentum than the November one. And we were also making this same slow ending move to the 1113 top on 16 Nov! From an EW perspective, it seems to me that we are trying to finish the 5th wave of the wave 1 up, with a possible target of 1117. This may be followed by a wave 2 correction back to around 1100. Jay, does this seem like a possible scenario, with a wave 2 low either late today or some time tomorrow, with a possible wave 3 up on Wednesday? Thanks very much for your thoughts, much appreciated!
Hi Jay,Is this still looking like a low today ? What are you seeing for the charts today ?
Jay, What do you see for gold and silver? Any numbers?Harry
This Monday could be different. After the high hit of 13:11, let's see what happens.Coy
Did u mean strong reaction up jay? Seems like we're breaking out to start a new rally today. I switched to long earlier. Shorting this market is foolish.x
zigzag's T chart is interestinghttp://dl.dropbox.com/u/312885/Screen%20shot%202009-12-14%20at%208.50.20%20AM.png
Coy - can you elaborate on what you are seeing for today and tomorrow ?
High hit 16 min late, shallow as usual, but recognizable. I think we're going down!
I didn't finish that:I think we're going down into the close.
AS,Yes, I will for tomorrow. Give me an hour to consult my crystal ball.Coy
Something wrong here. We hit a wall. Bulls beware. It's a TRAP.susan
Good sign. Met resistance at the high hit, now retracting.
AS,My work indicates we close down tomorrow. I'll take another reading later. I don't like it when I oppose Jay's chart.Coy
In the EW point of view i agree with coy.We have completed wave 1 move up from 1085 to 1114.either tmrw and the day after would be wave 2 down.
Thanks Coy / Linton .... so based on EW what would be possible tgt for wave ii ?
My non-Elliott platform is unchanging. Indicates closing down with possible open up. Good to know that Elliott agrees.I have a low hit at 15:56. We'll see if that has any impact on this sideways market.Coy
So as not to confuse: In my last post, upper paragraph is for tomorrow. 2nd for today.
Do you have the same feeling, I do?The Regan Administration's PTT is being exercised every day, authorized by Obama. Intended to alleviate a crash only. Not a fair playing field, here.
Don't be fooled by the permabears. Remember Oct.5th where the market went up 9 days straight. We're only on day 4. Breakout is confirmed.
per my morning post we have a 1-2-3 gap pump n dump3 gaps in a row (SPY)Thurs: 7 ptsFri: 4.7 ptsMon: 7.6 ptsTotal Gap pts: 19.3Total move in SPY from Wed. close to Mon. close 111.87 - 110.02 = 18.5 pts
COYthanks for picking up the slackI was out most of the dayAs I mentioned, that DIP could have started today, and if not it was unclear if the 16th would then provide that pivot low at 2pm, but SINCE Nothing occurred today, we must be suspect for the aboveI still have the 22/23rd as a strong TURN lower into the 28thJay
to,Using your figures, that's only 1.85 points.
But relates to 18.5 points in the SPX. Is that what your saying?
Your welcome, Jay. And thanks for that update.Coy
On cue WFC announced secondaries after the close today. The crooks are getting predictable.
Commitment of traders reported at MINUS 19% equaling MARCH 09 at its lowsJust what that mean for price levels ??IT Should mean a sell off, but so far its NOT thereThe PROPENS index rose from lows of 1985 to 3015 indicating higher still at least for Tuesday morningIts NOT complete yet for the whole day, so I cant comment on the closeActivity index rose today from 66 during the night to 200 during the day and at 7pm has dropped back to 66power index also rose today, but drops off tomorrow- but nothing dramatic. from 400 to 300ditto for 16thWhats LEAST expected ?last week bullish sentiment was reported and so far we remain lockedthe new moon is the only mover this week and its at 7am Wed-which could be providing support, and once past, it might let out some hot air??Jay
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