UPDATE as of 4:15pm June9thTHAT 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:
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
Dow jones analysis before opening bell
http://niftychartsandpatterns.blogspot.com/2010/06/dow-jones-analysis-before-opening-bell_09.html
Critical Juncture resistance.
Must get thru or die
took some profits from the gap up and more this moring
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
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
Gold is now moving inverse to the market.
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
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.
Jay
Do you think we close positive today?
YES!
I am seeing one more push to 1080 - 1085
I am still hard time believing we close positive today, could be wrong
today was a gift from GOD to load up short
rrman
makes sense, gift to us
take a picture of Dow 10,009 maybe the the last time for a while
rrman
too bad just missed it
I dont think you missed
it
Dow 10k tomrrow again
and holding
Friday could be the surprise
drop back to 1050
Jay
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
might get a rebound tomorrow but I am holding thru the last two big drops i have got faked out not this time
Jay,
What do you expect for close and into am tomorrow?
Thanks,
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 ?
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
I'm looking at gap down open below 1040
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
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
shake & bake
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
we gap up and take off leaving the bears eating rasberries for dinner.
an alternate view.
HI Paul,
WELCOME
Rick
Up at least 200 pts today
Jay
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