Monday, June 21, 2010

Monday June 21st

39/58 = 67% SOLID numbers

Summer Solstice today

39 HOURS at 10am should be today's high

just because i bot some shorts on Ths & fri doesnt mean I wont add more today

Ive mentioned this several times -- SCALING in near tops and bottoms is NORMAL
we CANNOT expect to catch EXACT turns ALL THE TIME- altho when it does happen
can be very gratifying

Today's read says be FLEXIBLE -and that doesnt mean bending at the waist
OUT with the OLD, and in with the NEW

I had projected spx possible to 1130, and even 1150, but a high today of 1125 should set
the stage for the decline to follow.

more later


rrman said...

helge says down all day into the close then futures rebound with a gap up tomorrow then during trading hours tomorrow choppy day with a down bias but big drop after hours

Reza said...

AAPL rallying based on AAPL products will be more expensive to Chinese consumers, so less sales. WTF

RickyBobby said...

loaded short bigtime here

San said...

SP 500 facing resistance at 50% fib retracement level

Anonymous said...

eur/usd head and shoulders top on 60 min chart...
124.68 was A TOP..was it THE TOP?
was 1131 THE right shoulder (lower right shoulder?) hmmmm...possible..
one thing we know is U.S. Equities follow eur/usd and it's tanking inner day

benjoyce said...

mole on "evil speculator" thinks 1130 may be all for the upside

that particular post is a subscriber post which will be up for public tomorrow

he's a smart guy

benjoyce said...

Mole has this to say.....'

"Yes, perhaps I’m seeing things but what you can’t argue with is the push down in the past few days – a very obvious divergence. That in the context of that ‘doji graveyard’ on the SPX and I think we may be nearing a top in this current push up. A blow off top may still be in the works however – I’m still eying the 1130 mark.

Which brings me to the wave count. Not much has changed. Soylent Orange is tracing out exactly as I anticipated, which is why I left the markings on the chart. Hey, let me bathe in a moment of glory every once in a while, alright?

It’s possible we turn right away but I think this pattern is not done yet and will get us to 1130 before it’s all said and done. So while I allow myself the luxury of Soylent Green what we’ll get is most likely Soylent Orange, which should conclude Minor 2.

And that’s all I have for this weekend – I hope it’s been fun.



Anonymous said...

eur/usd TIMBER!

hmmm, news from EU,Middle East,and/or Asia this week?
the Candles think so!

Reza said...

Finally AAPL gave in

Jay Strauss said...

this wkend including Ths to Sunday

has a CLUSTER of 10 negative energy forces which could lead to something more than the flash crash of May 6th

Since most of the above occurs on Sat & Sun, the ONLY time for it to effect mkt behavior is Ths & Fri

As noted by my daily readings
Wed has a POSITIVE $$ effect along with a FED announce at 2;15pm

If there is ANY chance of hitting and holding 1130 on close, it WILL
be WED unless they sell off strongly later today & tomrrow


Jay Strauss said...

200 at 7pm Sunday
233 at 7am this morning
133 @ 9 am & holding that level
till NOW dropping to 100


PC ratios yesterday were MIXED
some were bullish and some were bearish thus we get the kind of day we NOW see


rrman said...

out short now long /6e euro helge says long until midnight

Anonymous said...

Thank you Jay!

if it weren't for your 6/25 low call,I MIGHT have dumped the open today and cost myself a lot of $ (8k shares TZA) is,I will kick back to see my b-days 6/22 action and potential 6/23 short term low into Fri's lower low...

eur/usd ALSO kept me in..THAT WAS A TOP @ 124.68 (to what degree we shall see)and us equities following down...

something BAD is brewing in EU,Middle East,and/or Asia!

AS said...

Jay - same here - stuck to my TZA July 7 calls in the am due to your daily reading :)

One q - you mentioned that we may see 1130 again on Wed - in that case, wouldn't it be smart to take some profit on the low tomm then add again on Fed day which is usually bullish ?

Based on my counts, I see this as wave down - we completed 3 wave down ... with little more downside tomm ( we may have a 5th wave of 3 left).. then up in a retracement wave then a 3rd wave down in Wed - Friday ...

What I am not sure is if this is a retracement wave or a primary one ..

Will welcome your thoughts ... and also if there is any potential time you see for the low tomm ...

rrman said...

looks like we might get a half way back move up on the euro tonight then down into open then nice rally at open more than half way back tomorrow will be a gap up pretty big then chop all day with a down bias but the big down will happen after close tomorrow

Reza said...

rrman is holding the battlefield at ES 1103.75,

San said...

SP 500 Analysis after closing bell

Jay Strauss said...

I really dont think SPX1130
can be reached, but I dropped it out that for thought. others have mentioned it and it is a fibo level.

Ideally I would like to see today at or under 1100, but it might not occur till tomrrow AM - some are suggesting support at 1085

Wed AM has SOME NEGATIVE VIBES for OPEN, and the 13hr cycle at 10am might be the LOD

IF so, then any rebound would only recover the losses and maybe add a little more to end a little positive.

Keep in mind that even tho Wed calls for $$ benefits, the rally looks like it will come off a lower open