NAILED ANOTHER ONE69.8%
MarketWatch lost data feed mid day, thus the weird looking chart
Jay
This matches somewhat , but not exactly what the power index shows for todayBUT
the 39 HOUR cycle does hit at 10am tomrow and IF opposite of last Monday's high at 1131
at 10am then I suspect it should be correct
Futures after 8:30 turned Down, otherwise EKG would have matched power index, but one small uptick at the OPEN of the week is really inconsequential
You have all the cycles from previous posts- USE the data and lets refer to often to evaluate
especially given Helge's position for lower into Wed as comparisons, since we seem to be doing that.
Jay
31 comments:
OK, Here we GO
10am LOW hit at 210bars
not the usual bar cycle, but 10am
is common.
Any rebound HIGH should occur
at or near 1pm to 2pm, thus the mid day high, and subsequent decline INTO tomrrow at 10am with 39HOURS AND 30bars at the same time.
How low is LOW?
IMO, I dont expect a new low this week as I have already suggested
ANd the MONTHLY graph also indicates a MAJOR TOP on JULY 15th
I indicated elsewhere that I would expect 1060 to hold as a
b wave low leading to a level above 1100 by that July15th date
After TOMRROW's 10am LOW, the POWER INDEX shows a STRONG rally
into the CLOSE
Wed is an OFF day, but the power index seems to show it as mild rather than extreme, thus LEADING to a JULY 1st OPEN as the HIGH OF THIS WEEK
I am considering a new short at mid day IF we get a rebound into
2pm, and a BUY at 10am tomrrow
to be sold at close today or 10am tomrrow
Jay
Nasdaq composite index support zone.
http://niftychartsandpatterns.blogspot.com/2010/06/nasdaq-composite-index-support-zone.html
out of short euro now long
Activity index JUST jumped
from 166 to 266 at 11am
Jay
Sorry,, that strategy was all messed up- I was distracted by other events
Im thinking about shorting later today between 1 & 2pm
So far we got a 10am low @1071 & at 11am rebounding to 1080
the 39hr cycle at 10am SHOULD offer the best place to Close out that short.
And at the same time a good opp to get long for the day
Jay
Jay, appreciate your comments after your EKG release. It gives more clarity for the progressing day. Also your outlooks for the week, resp. month is hugely useful. Although we are trading today and not for the weeks to come.
I continously check the comments section during trading session. No problem with that.
I am still mightily impressed with your work.
Terrific bunch of people here. Keep enjoying it.
Some input.
S&P100 guys are betting on the rally big time, so despite some short term weakness (as per Jay) the rally (and quite explosive one) is due.
Also Silver and Copper are stronger then Gold - another sign of some strength.
Cheers
ok we decided to run back and touch the bottom of the channel on the /6e so now we reverse and make a run for the top
I hate it when I don't have time to watch the markets. If I do have time, I come here :)
Thanks all for your continual updates.
I'm holding on to some longs since Friday - but I may add to the position tomorrow AM depending on how we finish today.
I have no choice but this strategy as I don't want to miss that ramp up.
Rman - still looking for a low tomorrow or Wed am based on Helge chart or something changed ?
Jay - this is so much fun - thanks for making this a great forum ...
Considering that the rebound high has not been able to make a new high ... shows weakness ...
Mkt is consolidating in a triangle lets see it acts as a continuation pattern down ...
yes AS i will go back short on the pop that is beginning now should top around 4 or 5 pm
Chart patterns not showing me any pop .... but no breakdown yet either ....
My charts are showing a rise is imminent. Get ready to load long.
High occurred earlier than
I suggested, but 3pm Should provide another high point
Im still waiting
If nothing pops, then i will wait out tomrrow's low at 10am
Jay
Ricky bobby - what charts / indicators do u look for ?
my chart for the SPX usually when price sits on the bottom tong of these forks for 3 days they will break down
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=1&mn=0&dy=0&i=p12742850540&a=155363609&r=9853
FYI you can refresh these charts and they will update
OK, Its almost 3pm and they are popping higher into the 3pm time zone
Activity index was 300 at 2pm, now at 166 at 2;55pm
just jumped up one notch to 200
at 2;55pm
Jay
anyone care to use CHAT ROLL?
Im on line- main page
Jay
Jay,
I know you called the 3pm high and selloff into 10 am (or will it be later since the high came an hour higher,presuming the close holds down here)
but could you break it down to seconds to be more concise?
for those of you who don't know me,that was seriously tongue in cheek!
I see us in a 5 wave up from Friday and abc down since morning high with the c playing out.... don't think it is complete yet ....
FRANCOIS
IM getting a BELLY LAUGH
Thanks
Need some HUMOR occasionally
Jay
Today will be down huge and we will keep going down....might be a small pop right after close but small and then down down down all night....
Will plan on getting out of faz and tza as soon as possible Wed. morning at open
or if it will take a sale before open on after hours market..will be down all day
today and all night tonight but will recover at open tomorrow.....
Will look at going long with fas and tna but will update you on that later..
out of /6e euro at 1.2220 will short the pop around 7am and hold until close should be down all day the reshort the pop right after close then down all night
rrman, sounds like a "crash" to me. Think well make the middle BB on the monthly spx? about 990
should we just rely on your opinion or could you provide some rationale?
I hope your right rrman. Based on your advice, I just dropped $50k in out of the money puts which expire tomorrow (EOM)
I hope you sleep well Wed. night
i don't know the level Ben i just go on helge's times...
http://www.cyclelt.com/INT.htm
just kidding about the 50k
back in short /6e 1.2209
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