Just as the READING indicatedThs & Fri flippedso farFriday started out with an early urge to spend, and has turned lower running out of gas.I REMIND All of you that I had posted the MATH MODEL several timeswhich indicated SPX 1009 as potential for the NEXT important pivot.If that does NOT hold today, thenits possible the next fibo level of 980 might start looking good for late today.NO MATTER what the close today, I am STILL expecting a STRONG open, and higher mkt on JULY6 to early 8thJust follow the JULY energy graphJay
thanks jay looks good
Thanks Jay,Can you say when you expect that high point on the EKG?Your work amazes me!
GOLD got CLOCKED yesterdayamid ALL the BULLISH talk of last week- Bullish sentiment was the killer, and price should continue to erode till JULY 15th.Jay
AlesundI would suspect a last hourrout given a long holiday wkendFlash has indicated 3:29pmand there is a 329 bar cycle pivot at the same timeSPx 1009 would be just great for me.ANY more would be an added gift.Jay258bars hit late +6bars at 264,at 10am but it matters not.DAILY HOURLY turns as you may remember occur at11am1pm3pmWatch daily and you will recognize themJay
Gold could trade down as low as 1150 and silver as low 16.
Dow Jones inverted head and shoulders and 50 hour moving average resistancehttp://niftychartsandpatterns.blogspot.com/2010/07/dow-futures-inverted-hs-and-fifty-hour.html
Jay, what will yo buy at the end of day. TNA, if so will you feel comfortable holding through the weekend. Will TNA calls be much safer
TNA looks good. So does FAS.
it doesn't look like we can finish the decline today. we've seen 1 of 5 , now in rebound. but that means that 3/4 & 5 of the final wave will come early next week, imho. so maybe sell off on the holiday - huge gap down on tuesday, and that will be it for 1 of Minor cementzak
excuse me, 1 of Minor 
VXX is negative STRANGE!???
There's a good chance for a strong positive close and then tank on Tuesday as cementzak mentioned.
I dont know HOW many times I have to prove my methodsMonday WILL EXPLODE GAP UPHigh WILL BE WEd early dayIf you have something CONCRETE toback up an off the cuff projection, please do so.But we cant trade on what the mkt might doENUF preaching Jay- OkFAS is a lot cheaper than TNA or TYHhistorically, does anyone know if one performs better than the other, OR are they about all the same ??IM sure that the rally will include financials as well as tech.Jay
OEX option traders agree with Jay 100%. So do I
Jay - US markets are not open on Monday - if wave count is correct we'll start 3 down later today ... but i asumme it will not finish today, but that it might finish on the ES on monday, and then when us market opens on tuesday start of rallybut wait & see what the rest of the day brings, maybe we see a flash crash towards the close and then this decline could be over here and now ...this is purely based on wave count, ignoring the ASTRO. has worked very well this week so farcementzak
Jay, r u still looking for a close at the LOD?Many thanks for all your work!Sean
SorryI MEANT TUESDAY will GAP up BIG TIME, especially should we FINISHthe wave low today at 3;30 to 4pmI have written several times about the Monday holidayJay
looks like a buy at the close at the lows ..TNA
tza daily chart is one of the best to see whats going on .....pretty nice trading range for several months it has been working well for me i bought at 5.90 on this last run and sold at 7.90 bought tna to ride it back when tza gets back to 6.50 or so will sell my tna and buy tza back i've made several round trips and tza is the best chart i've found to do this..
Lately Jay faz and tza have been pretty close on the percentage moves a month or so ago tza was moving more but now the seem pretty even...i play more tza because the financials seem to have more issues right now with the new fin bill pending
rrmanthanksIve been using FAZ alsoBUT on close today I wish to get LONG, so will consider FAS & TYHPossibly 50% eachEnergy does not excite me-ggAs far as options, I find the DJX has GREAT beta the DJX puts on the 29th DOUBLEDfrom my purchase on the 28th.Jay
Tza chart that i use i am long tna since yesterday and fas http://www.facebook.com/ross.aymami#!/photo.php?pid=31394150&id=1127956965
Looks like I will miss entry on TNA again. It is same thing what happened to me for TZA last friday. At certain levels you have to buy instead of depending on activity index
it starts to look like 1010 could be the low of 1 of 
1010, yes but was not supposed to be intradayDamngot to scramble to buy inj
Activity index hit a low at 1pm at 200 now at 3;45 is at 333and we see the resultsJ
there is a SMALL possibilitythat Tuesday could start out LOWERto finish the wave, and recover,Not sure how to play this one.Tues is an 8day turn with 13 hours at 10am, and a minor neg energy hit at 11am to 11;30 Jay
5min charts are obverbought on TNA and TYH. I decided to not to force buying at the end of the day and hold. If I miss, I miss. I buy price for TNA was under 34,which it hit aroung 12:30
goin lower next week
Today's close and behavior of the markets suggest the selling isn't over yet. Maybe a bounce, but we have a long way to go to the downside IMHO. There isn't enough fear and no capitulation.
RoseIm standing aside alsoPower index seems to indicate a possible low on TuesdayHavent researched all yet, but wave count does not look completeCementzak might have it right and at least he can back up his claimJaysee yuh later alligator
should have retested 1010 at the least to mount a rally from a lowJay
got another chance to buy tna afterhours with the dip
Jay,You do your best and I am so thankful for your efforts!You can't always be spot on, but your work is excellent and don't ever get discouraged.I believe cementzak's count is correct and we will bottom around the 975-980 level on the S&P. That will bring in the fear and capitulation and get loads of people short. Today wasn't "it" if you know what I mean.Happy long weekend to all Americans out there. I wish all of you a great time R&Ring.For the rest of us - back to studying charts, cycles, etc.Alesund
rrman,Helge's charts seem to suggest strength ending today or on July 5th and then down to July 12th to a lower low that yesterday, July 1st.Am I reading his charts wrong? They seem pretty straight forward.I'm just wondering why buy now if you are following Helge's charts?Have a great weekend!
we might have started a 3 down at the end of the day, in that case monday futures will sell off.... but it is also possible that 1010 will be the low .... i still have some shorts but small amount, no longsbye nowcementzak
If you look at 15 min charts on TNA and TYH, they are overbought. See Maurice Walkers charts on stockcharts.com. They got rejected and made a doji also TNA may come down to 30-32. Hadik and Helge are both pointing to July 12th low
Rose - who is Hadik and is there a link for his outlook ?
Haddiik: link www.insiidetrack.comI get free updates from him. He is expecting low on July 12 and rally till mid august. But the problem is, Arch Crawford is talking about some big cardinal climal on Aug 1. See his newsletter posted on Jan 2010. - crawfordperspective.com. I also heard is listened to his radio inteview somewhere
Alesund euro made the huge up wave but the market didnt that wave has to come and tues would be the time
the reason why i like 1010 as a bottom, a retrace to retest the broken trendline would be a 50 à 61,8% retracement. another leg down would stop at 980 or so, that would make a retest of that trendline almost unreachable. also i can see big shake-out moves in the currencies before a real strong move in the oppossite direction (EUR/USD , EUR/JPY etc)cementzak
RoseCementZakAlesundThanksI AGREE with all of you NOWA short term low should occur on TUeSDAY, probably at 1009 The 9th COULD FIND that low getting retested AFTER the reboundFWIWthe REBOUND I HAD projected forTUESDAY was PREDICATED on making a LOW at or near close Fridayat spx 1009THAT DID NOT OCCURHowever,the LAST 5 minutes dropped 65 pts setting up a GAP DOWN OPEN FOR TUESDAY, and potential to end the day at 1009That leases WED for the ONE DAY WONDER rallymeaning I wonder where that came from? ggJay
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