THE FUTURE

THE FUTURE
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Wednesday, June 09, 2010

June 9th EKG

UPDATE as of 4:15pm June9th
THAT Certainly made up for yesterday - PERFECT SCORE TODAY
Remember the daily READING
Unsettling & obstacles
OPPOSITE of yesterday, AND IT SURE WAS AN EXACT opposite
Low occurred on Tues at 1042
initial rally = wave a to 1077
wave b low today at 3:55 = 1052
high tomrrow should = wave c = iv of 5
leaves us with v of 5 of 1
WHICH MEANS Wave 2 rebound NEXT WEEk
Jay


10am is a 26hour mark and IF a HIGH, could mark the HOD like Monday

Tech internal are MONSTER OVERSOLD, and Today is a BRADLEY date
imo, last chance to break under 1040 before a substantial rebound

Today calls for unsettling & obstacles
opposite of yesterday

Jay

30 comments:

rose2797 said...

Jay, if we are rallying into Bradley turn date, do yuo think we go down from there. It does not look we will break 1040 today

San said...

Dow jones analysis before opening bell

http://niftychartsandpatterns.blogspot.com/2010/06/dow-jones-analysis-before-opening-bell_09.html

RickyBobby said...

Critical Juncture resistance.

Must get thru or die

took some profits from the gap up and more this moring

Jay Strauss said...

Rose,
Good question
Im going to follow the
Power index that i published showing a low on the 8th with a rally same day- then sideways more or less with a stronger close friday
leading to stronger rallies on 15&16
Jay

Bradley is Plus or minus 2 day and its starting to look like it was the 8th

UNLESS they turn down later today

This is one of those time periods that can mystify all of us.

BEARS are waiting for the other shoe to fall, but it MAY NOT

Jay

RickyBobby said...

Jay

I just go over to trader's talk board to gage sentiment. Most of the posters there are lightweights. They were all mostly bearish , some calling for a crash.

Mr DEV was the lone standout. He's got a good system. He's arrogant but good. I like arrogant traders. They are that way for a reason.

lol

RickyBobby said...

Gold is now moving inverse to the market.

Jay Strauss said...

OK, Rick
Wave structure still in 5th wave from the 1106 high @ 10am on June3rd

Got an intraday LOw at 1043
and now a high at 1074

WE SEEm to be In between waves or in other words, making an abc zig zag AGAINST the trend.

Took another look at Friday which
could repeat June4th, since Im expecting tomrrow to be strongly UP, but it should follow some backing off today

Confusing period until Friday

Next week shows me POWER thru 17th
Jay

Abdullah said...

Today is the kind of day that a swing trader hates. What's a swing trader? Someone looking for a multi day hold, something you can catch and run for a few days to a few weeks. But, like most of the days lately the market swings are just too wild to make any sense. We opened big, then dipped. Then back up and then another dip.

Reza said...

Jay

Do you think we close positive today?

RickyBobby said...

YES!

Anjali said...

I am seeing one more push to 1080 - 1085

Reza said...

I am still hard time believing we close positive today, could be wrong

rrman said...

today was a gift from GOD to load up short

Reza said...

rrman

makes sense, gift to us

rrman said...

take a picture of Dow 10,009 maybe the the last time for a while

Reza said...

rrman

too bad just missed it

Jay Strauss said...

I dont think you missed
it
Dow 10k tomrrow again
and holding

Friday could be the surprise
drop back to 1050

Jay

Abdullah said...

Jay,

So far this week as you mentioned:

MON 7 - DOWN = *great call
TUE 8 - UP = *great call
WED 9 - DOWN = *still watching the close.
THU 10 - UP
FRI 11 - POP
14-17 June - HIGH
18 June - CRASH

rrman said...

might get a rebound tomorrow but I am holding thru the last two big drops i have got faked out not this time

BKLNYC said...

Jay,

What do you expect for close and into am tomorrow?

Thanks,

Anjali said...

Jay - the power index update mentioned that you were looking for jay 10 and 11 to be further highs ... now you are looking for selloff on Friday june 11 ?

Reza said...

Cobra mentioned short at today's close and cover Friday close based on SPY up and Nasdaq down yesterday. 85% chance of success. Pointed out by Red_Dragon_Leo

rrman said...

I'm looking at gap down open below 1040

Jay Strauss said...

anjali
Thanks for asking
Yes, there has been some adjustment

Im going against what I originally thought it was telling me, and now expecting the 11th to start down and continue to close, BUT
I will confirm that later when the EKG becomes available

SO FAR the EKG for tomrrow shows POSSIBLE open higher , back off - but close not avail yet
READ for the day says we get a SOLID RALLY with no back off like today

REMEMBER
the DAILY READING
WED - obstacles & unsettling
OPPOSITE of TUeSDAY
AND IT SURE WAS ALL the above

USA fell right after Europe closed
FROM 11:30 at 10,065 down to 9900

THE DAILY read for tomrrow IS
MONEY SUCCESS

ABC
wave 1 of 5 low at 1043
wave a to 1077
wave b to 1052 today near close
wave c to 1080-1090 TOMRROW
wave 5 Friday to 1040-1045

That completes wave 1
Next week = wave 2 REBOUND

Jay

madaboutsingha said...
This comment has been removed by the author.
madaboutsingha said...

Hi Jay,

I just follow your blog a couple of days and I want to thank you for sharing your thoughts with us! Really amazing work you do!
I fully agree with you:
- nobody has a crystal ball
- nobody knows what the future is rolling out for us
- we are trading now and we are trading with probabilities
- we should cut it down to the simple things lying just before our feet
- everybody is responsible for what he does.

I wish you health and happiness! (love the pic...)

Paul from Thailand

RickyBobby said...

shake & bake

rrman said...

Jay looks like we're going to get your gap up the decline has shown up later than i thought we should be down all day and retest the lows

RickyBobby said...

we gap up and take off leaving the bears eating rasberries for dinner.

an alternate view.

Jay Strauss said...

HI Paul,
WELCOME

Rick
Up at least 200 pts today

Jay