The PROBLEM with publishing the EKG preliminary is reading an incomplete data streamwhich NOW shows a strong UP open obviously based on this mornings futures
May 25th did hit 9775 & spx 1041 with a thud at open and ended the day will a high ARMS
index of 4.88, Giving the 5 & 10 day BUY Signals
HOWEVER, we know from experience, there is USUALLY 2 waves to consider
thus
May 25th INTRADAY low could be based on Thrust with volume
May 28th, IF another LEG down to test 9775 & 1041 should be on a lot less volume.
_________________________________
THIS IS NOT MEANT as a prediction
BUT
Heres some MATH to consider
900 SPX pts were lost in the 2008/2009 decline
900 x 23.6% =212 pts ((( 1220-212=1008
-------------------------
554 pts regained from Mar9th low to April26 hi
554 x 38.2% = 211 pts--- GETS the spx to the same as above
NOW consider WHEN
wave A which If it breaks into 5 waves should be
considered the START of 5 extended waves down into 2011/2012
April 26th, and 8 day HIGH to May 28th = 24 tr days / 8 = 3 rotations
Oct 27th, 2009 + 400 tr days = May 28th = 50 rotations of 8
I DO EXPECT JUNE to RALLY thru the 18th, WHICH IS ANTI the establishment of techs
since MOST of them NOW expect May to END ON A HIGH, and JUNE to go lower
Monday May 31 is CLOSED for memorial day
Jay
Futures at 7pm show DOW off about 37 pts at openJay
71 comments:
Reza got your email...monday should be the low we will bounce and retest wed...then pretty much straight up rally into the 7th then back down...
It looks like tomorrow open we will touch 1050 and rally and sell off.
So everyone is thinking they are going to do a huge selloff on the mkt into a holiday weekend - with the media so bearish already ?
BIG Gap-UP
*gulp*
Friday will be a ramp day but Sun nite the futes will have a huge down
wave the open Monday will probably be the low
How "sweep" it is to see dem futures .
Now that was a 'bear" trap from hell.
I hope y'all bought futures last night.
rrman.
yes. It will be a higher low.
Monday May 31 is HOLIDAY
Memorial day
mkt closed
MY VIEW??
It looks like we are getting
an abc from the 9775 INTRADAY LOW
Tuesday
a hit 1091
b dropped back to 1067
c could hit 1091 this AM
5th wave with less volume later today & ending on 28th
ARMS index DATA gave a HUGE BUY
on 25th with one day index of 4.88
anyone else keep arms data?
please verify that number
Jay
ricky
i mentioned last night, sell off on hold and will not be surprised if we come back to 1085 area and settle around 1085 for the week
sweeping from both ends
Dont go long until confirmed. Bulls needs to capture 1089 and run, otherwise its a range day. QQQQ needs to hit 41.55, then go long with ease. Right now is whipsaw
Ramp up Thursday is bearish,
Follow the previous trand
Previous Bullish Mon - now down
Previous Thursday down - now up
Prev. Fri down to buy the dips for Monday ramp up- If Friday is up tomorrow then short.
As I mentioned weekly settlement is at 1085
seems like top is in for the day
HI reza
OPEN high
might be it for the day
Jay
E*TRADE FINANCIAL INC WEEKLY CHANNEL
http://niftychartsandpatterns.blogspot.com/2010/05/etrade-financial-inc-weekly.html
Thank you
DOW JONES INVERTED HEAD AND SHOULDERS
http://niftychartsandpatterns.blogspot.com/2010/05/dow-jones-inverted-head-and-shoulders_27.html
Thank you
dow trying to put in a top around 10200, just like 11200. short if 10170 fails convincely
Jay
Do u think market can close positive today.
buying some typ here, no money on the long side
waiting for 10170
I wouldn't buy shorts here .... looks like a gap and go day ....
typ may go to 8.35
AS
Max potential on the upside is 1135 SP, DOW 10750 based on next Q guidance. Down potential more.
Exactly - wait till next resistance before buying ... why have underwater position right when you are starting ... next level is 1105 ..
SP cant even go 1093 and up, no volume, computer running on its own.
Seems we will close around 1060's area again if we dont go above 1093
bear stop 1091.4
long is in play currently, target 1110
having hard time at 10170
its all about sweep and mop. just play the sweep & mop game. long at 1050's and short at 1090 area
Patience- big up candle on 60 min ... this next hour may be a pause ...
Rman - can you share what levels you are seeing into early next week ?
TIA :)
Jay - what does this mean ...
April 26th, and 8 day HIGH to May 28th = 24 tr days / 8 = 3 rotations
Oct 27th, 2009 + 400 tr days = May 28th = 50 rotations of 8
What is the significance of this ?
Thanks for sharing ..
AS I am not sure levels but it will be a new low I'm sure of that then rally into the 7th I'm thinking tues may be the low instead of Monday I'm going short around 1pm central with tza in my IRA and will hold thru all the mess until the low hits tues. The reason is that most of the moves up are going to happen after hours and this will be the last big up shorting op during trading hours before the mini crash into tuesday low....
chart 1 tells the tale of whats to come
http://www.cyclelt.com/INT.htm
Chart 8 gives you the longer term the bottom tues is very clear then the ramp
rrman, do you think € has found it's ground for a while ?
rrman
correct me if Im wrong about Helge
find his charts difficult to follow
Most of the charts I see at his site are pointing DOWn from this high we are at RIGHT NOW into the 31st, which is a HOLIDAY
THUS any drop from this level, according to his graphs MUST OCCUR
beginning today and END tomrrow
ANy left over lower low MIGHT occur on June 1st at open, as his charts also seem to show a rally into the 7th???
thanks
Jay
So far today's rally appears to be on low volume. Hang on!
bought tza at 6.92 will hold thru the weekend for the low of this down channel
also short /6e until the close then will go long for a big ramp after hours
Jay chart 8 is the best to see the low it show tuesday as the low then ramp up into the 7th
we go down into the close then right at close ramp back up until 6pm central or so then big down into midday friday....
NASDAQ 100 APPROACHING RESISTANCE LINE.
http://niftychartsandpatterns.blogspot.com/2010/05/nasdaq-100-running-into-resistance.html
Thank you
momentum is pretty high, Dow gained 10 points last 3 hours
Rman - not sure if we are seeing same charts ... the upchannel shows a surge in the blue line all the way up on Chart 8 - intraday cycle big picture ...
Are you seeing the green line to determine the lows on 6/1 ?
Ofcourse momentum is high after an important bottom.
I'm sorry he lists it as chart 5 i called it chart 8 because its 8 charts down
S & P 500 BREAKES OUT OF AN INVERTED HEAD AND SHOULDERS PATTERN.
http://niftychartsandpatterns.blogspot.com/2010/05/s-p-500-inverted-head-and-shoulders.html
Thank you
time for 1060 starting now
Rman - if you look at the forecast - seem to be in inverted no ?
White line shows going down all week, but if you look at daily from Tuesday.... we are movin up ...
What do u think ?
euro is following helge perfectly but lookslike someone wants to close /es over 1100 today
LOL
S & P 500 Triangle in hourly chart
http://niftychartsandpatterns.blogspot.com/2010/05/s-p-500-triangle-in-hourly-chart.html
Thank you
the market did not even move,
I am stuck with the same price as I bought TYP
1103
this should be the high for trading hours before our mini crash into the 1st
rrman
Did u get my email
yeah thanks Reza
rrman,
your analysis and his match perfectly
With high Initial Claims today, we still haven't seen lots of job creation. Nonfarm Payrolls may be trouble next week.
Bought VXX & TZA before close.
Still holding my FAZ ... one day she moves to $50ish.
FULL MOON Magnifies
Jay
Gap up
Reza, haven't heard from our Friend big M. any update from him?
sam,
post email and delete when u receive
Russell 2000 Index takes a new turn in the hourly chart
http://niftychartsandpatterns.blogspot.com/2010/05/russell-2000-index-takes-new-direction.html
Thank you
Samamamehta
What's Flash saying these days?
San
nice chart
Watch for 4 dma to hold support and keep uptrend going.
Ihave verified Buy signals for the Longer term intermediate type cycles I use.
At just about almost everyone of these turns there are too many people looking for that one more new low so they can all jump in.
Guess what? Ain't gonna happen cause the market is too savvy.
Breakout stock of the day from NASDAQ - LMNR(limoneira co)
http://niftychartsandpatterns.blogspot.com/2010/05/new-break-out-stock-lmnr-limoneira.html
Thank you
Ricky
SP confirmed the bottom, but NQ did not confirm the bottom. The system I use had a buy signal on both, now lets see tomorrow's action. another bear stop is at 1107, then 1137
normallu if the bottom is not confirmed, it turns out to be a fakeout
Apple Inc Buy signal in daily chaRT
http://niftychartsandpatterns.blogspot.com/2010/05/apple-inc-daily-chart-buy-signal.html
Thank you
After over six weeks of declining markets, models are now suggesting that the correction is over. The retracement of the broad-based NYSE Composite has moved model levels down to where major reversal occur ). Market action today strongly indicates the completion of the pullback.
The index continues to trade on an average 16-week cycle ). This has been the pattern for the past 5 years. The last four significant troughs have been in March, July and November 2009 and February and finally late May 2010. The next low is expected in September.
The next four months should be approached with increased caution. Though the probability of positive markets for June, July and August are only 50%, the likelihood of September turning negative is over 73%.
Also I want to say that I have a SELL signal on my 1y cycle and my 2y cycle on the verge of a SELL signal. So that means one more high (or lower high)to be made in the 4-5 moonth cycle and as it rolls over , short it like you hate it. Since we are basically rolling over in the Large cycles , it will mean increased volatility so prepare for that in the smaller short term day and hourly cycles if you trade them.
Ricky
Ricky - can u share a chart for your cycles ?
Jay - no EKG for today ?
rrman
regardless of Helge's charts
Neg energy is abundant today and all weekend including Monday, but dissipates MONDAY NIGHT
It seems to me that ANY SETBACK of importance should occur TODAY, not Monday
Jay
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