THE FUTURE

THE FUTURE
DO YOU WANT TO SEE THE NEXT BREXIT in ADVANCE ?

Wednesday, May 26, 2010

May 26th EKG

THE EKG WORKS MORE OFTEN THAN IT MISSES
Jay

As per the short term power index published yesterday, the 26th has potential to hit a rebound high

which sets up, imo, the next leg down into Friday, May 28th

Math model shows the last decline from 1174 to 1041 of 133 pts
133x 38.2% = 50 + 1041= 1091 which is exactly where the last
penetration provided major support -- NOW should become RESISTANCE

yesterday, they did hit some key cycles
open LOWER at 228 bars @ 9:45 am
Turned higher after 258bars at 12;30 to 1pm

Today
60bars at 11am
90bars at 1:30
120bars at 4pm, or open Ths

Today's reading still negative
expect money issues
dont take chances

Thsday read
Agitations
Fri
Agitations continue

HOW low is LOW ?

THere are have projections out there from 1020 all the way to 925
today should BOLSTER the Bearish position by making the bulls FEEL SAFE.

more later
Jay

35 comments:

Reza said...

gap call did not work out. they are sweeping the bear stops at 1093 & 1107 area

Reza said...

dow 10160 bear stop, one of the area to short. sweep and mop

Reza said...

dont go short until vix 24.1

RickyBobby said...

sweep, sweep away

lol

Reza said...

sweep with the broom, get the flies out

Reza said...

Dow was sweeped to 10160, now is it mopping time or do they want to sweep some more

RickyBobby said...

looks like another sweepy 5 wave

Reza said...

think sweeping, shorts did not bulge

Reza said...

dow 9200 still a target

Abdullah said...

check this out ...
http://www.abc.net.au/news/video/2010/05/20/2905304.htm

Reza said...

if they close under 1074 then sweeping and mopping done

RickyBobby said...

going to Explode higher soon

Abdullah said...

VIX now above 32 minor resistance; strong support @30, strong resistance @35.

AS said...

Ricky - what are you seeing ?

Reza said...

All I see is we will close at this level for the week. Tomorrow down

Reza said...

We had a 400 rally with no pullback

San said...

DOW JONES INVERTED HEAD AND SHOULDERS PATTERN IN DAILY CHART

http://niftychartsandpatterns.blogspot.com/2010/05/dow-jones-inverted-head-and-shoulders.html

Thank you

Jay Strauss said...

HI San
Welcome to my corner
of the world, and thanks for
your input & blog

Jay

Reza said...

seems like sweeping done

Reza said...

think they want to keep 10,000 for today, Executive Order from Sec. of Treasury from EU, where he is teaching manipulation and stress tests

RickyBobby said...

Apparently I'm blind today but did take profits.

Reza said...

Jay,

Seems like you will get your 50 point drop tomorrow and Friday as you have mentioned

Jay Strauss said...

Business people are COMPLACENT
and HAVE NO IDEA what the market is about to do.
And they dont care as long as it doesnt effect their business, or at least refuse to accept that it does.

Spoke with such a person yesterday.
Told him about the 60-70 yr Kondratief wave- He popoohed it and said it could last 100 years.

NOW thats DENIAL

He would NOT even look it up as he sat right there in front of his PC

IT will be FASCINATING when he comes to ME and says
WHAT SHOULD I DO WITH MY Mutual funds that are NOW worth 50% of what they were the last time we spoke in 2010

As I said yesterday
WHEn you hear or read
NO BOTTOM
then we have one

Jay

Jay Strauss said...

REZA
GET READY FOR A SLUMP

rocket ride in reverse

Power index SHOWS the way

Jay

RickyBobby said...

LOL

Reza said...

Ricky, you made the same mistake last Friday too. I mentioned last Friday gap down.

Red Dragon Leo said...

I'm not sure where we will bottom, but I'd sure love to see that 20ma on the monthly hit tomorrow Jay.

I'm like you though... I see a hard reversal once the level is hit that they have targeted. I'll be looking for the QQQQ to tag it's double bottom of 41.55, and then I'll bail on all shorts.

Best of luck to you and your readers.

Reza said...

Red,

lost 1070 on the close means lose 50 points

Reza said...

Red

Then we take it from there

Reza said...

But will not be surprised if we close at 1085 by Friday close

Reza said...

Jay, what do you think about the bounce on Friday your monthly chart is showing

Red Dragon Leo said...

@Reza,

You mean a target of 1020 spx? I'm not sure on what the spx will drop too, but I believe the qqqq will put in a double bottom.

That's my signal to close my spy puts... at whatever level the spx is at?

Reza said...

Red,

I think the initial target is 980 area, from there a bounce. 950 will be good, but does not look like it as of now. 9200 on the Dow.

Reza said...

Jay.

Do you think they will try to put on hold below 1050 for this week and play it out next week.

San said...

S & P 500 30 MINUTES TRIANGLE UPDATED

http://niftychartsandpatterns.blogspot.com/2010/05/s-30-minutes-triangle.html

Thank you