Friday, July 09, 2010

JULY 9th EKG & more

this is ONE of HELGE'S CLEAREST charts above and it shows a LOW
on either the 9th and or 12th

MY POWER DATA seems to ALSO show a LOW on the 12th, at the 300 level which is quite low,
THEN takes a big JUMP up on the 13th tot he 600 level.

ENERGY FOR THE DAY [12th] seems benign BUT cycles could trump energy
just as it did all this week

39 hrs at 10am on the 12th -COULD be the hod

THE JULY monthly GRAPH is STILL offering the best view of this month so far
that has not changed

JULY 12th is
108 tr days from the FEb 8th low
54 tr days from Apr 26 HIGh
34 days May 20 low
8day June29 low

calling for powerful group activities

more later

80% Bearish PC ratios are indicating an OFF day today

Red Tide shows a DOWN day with a LOW at 3;30


Abdullah said...

All we can do is "lean" long, using small positions and take what we get.

benjoyce said...

When and if we get down to the spu 1045 or so today or monday, I'm buying the 1080 calls for the opx, hopefully we hit the trend line, now around 1090, by Wed ?1086 or so.

Then thurs or so buy puts (expire next day). On friday we have BAC (bank of america) earnings before the open, also citibank and GE.

For GE, don't they have a lot of overseas business? with the high dollar, this could have cut into their earnings.

also friday 10 am Umich sentiment. Last month was good reading. But confidence reading from the other goup (confrence board, I think) was down 10% from the previous month! Will this drop be reflected in U Mich reading on friday. ie Mich. reading has to get in line.??

Fundementally there is a (hopefully) decent possibility of a lot of bad fundementals a week from today (friday) to send this market way down??

I don't think this is nuts do you?

Then I'll have enough money for my 5 min Renko charts to tare ass!! I'll let you know how I make out.

Hopefully I'll be able to brag like hell.

spratman said...

Benj, I sincerely wish you luck on your plan :)

San said...


Jay Strauss said...


astro8 said...

I was looking for the market to retest the area where it broke out from 1050 area. Even though you might be able to be bullish it is too short lived. I am looking for a high to short so its sit on my hands

astro8 said...

I was looking for the market to retest the area where it broke out from 1050 area. Even though you might be able to be bullish it is too short lived. I am looking for a high to short so its sit on my hands

Abdullah said...

I took FAZ

Abdullah said...

hopefuly I see 2-3 gains by Mon/Tue

astro8 said...

Banks JPM, BAC, C GS WFC all reporting next 7 trading days. I suspect they will be good. Question is have they priced it in?

rose2797 said...

I also bought SKF. FAZ and BGZ making bullish wedge

Jay Strauss said...

reading for
Tuesday is positive
Wed = also positive

The WAVE count so far looks like it
got to a high this morning at 1075
Consider that WAVE A

They really need to sell off
to make a wave B low
Ive got Tuesday at 10am as most likely for the pivot as far as energy is concerned

Im waiting for the power data as well as the EKG next Monday

Math model
1131 - 1010 = 121 pts
X 62% = 75 = spx 1086
X 78% = 94 = spx 1104- which i doubt we will see in the current
P3 wave which is supposed to be the weakest off all

BUT 1086 NEXT thsday off the B wave low makes a good wave count C

As for the B wave low
1076-1010 = 66 pts
x 38.2 =25 pts back to 1050
50% = 33 pts = spx to 1042
and so forth- yuo can all do the math

Of course B waves can be Viscous and retrace ALL the way back, but I doubt that will happen between
now at 3pm and 10am on Tuesday AM

Some one mentioned 1045 area, and that looks about right for a retreating B wave as the math model depicts above.


astro8 said...

thanks for your work jay. If we get a pullback to even 1050 like i said i will take some longs. At this price to go long just seems dangerous. If i miss a trade so be it but i won't miss the down side. hehe . Some of the Bear funds seem to have a little more downside left in them. I wish Abdullah well in the FAZ position. I think FAZ might see 12.50 though before moving up.

Abdullah said...

Astro - I am banking on Arch call for 7/11 as WAR TIME and Jay's EKG being NEG on Monday.

Abdullah said...

Astro - i took a small position. If it comes that low 12.50 I will add more.

rose2797 said...

Looks in FAZ and BGZ are making bullish wedge. The rish reward is for some correction. I wish I had played on the risk/reward basis, would have bought TNA at 33. Well
learned my lesson. Cannot buy everything at extreme bottom

astro8 said...

yes Abdullah i agree. Do not know about Ach dates i think its more like July 30th Mars moves into Libra and teams up with Saturn square Pluto. Not good. good luck all

Reza said...

Whatever it is, I am not going to get out of FAZ until SKF hits 26.70. Saw a BOT print of 26.70. Another BOT print at SPY 102.94. which usually hits within two weeks

benjoyce said...

it seems too obvious. "Everyone" is waiting for that 15-20 pt drop in the ES to buy.

so it won't???

Reza said...

Monthly closing level estimate around 1010 level or 1000 level.

Jay Strauss said...

Early Power data seems to indicate
a WILD RIDE Monday to WEd

Monday at 300 all day
Tues opens at 300, jumps to 600
WEd opens at 300, jumps to 600

I havent seen anthing like that for quite a while

Today's late rise IF it holds seem to be getting support from a high energy effect AFTER hours

Yes, Your right, BUYING LONG NOW would appear INCORRECT

taking a short appears correct but we are going to have to be NIMBLE to close out those positions without getting WHIPSAWED

MKT fell AFTER the FULL moon ECLIPSE, and might repeat that next week

ENERGY did NOT indicate such, but it could get WILD as indicated


RickyBobby said...

exactly Benjoice

I've been shake & bake Long from the Gap up 3 days ago.

You gotta know what cycle youre in to understand why it's going long and strong like this although now we're close to a short term top.

benjoyce said...


how long will it take to go down.??

too late for a get long plan

ain't no 30 s&p pt rally before opex?

Can't the market do what I want it to do and go down 20 by tues? (used to say monday)

rose2797 said...

stockcharts : page 15 - TZA channel is given. the bottom of the channel is at 32.

AS said...

Ricky - can you share more of what you look at ?

Obviously Helge inverted this week ... just for those who follow Helge ... the q is whether next week inverts too ...

Jay Strauss said...

Since we got noting today, then it all has to happen Mon & Tues which are begining to look like the 28th & 29th

STill got the 15th and 10am of the 16th for the next HIGH & turn, but what gives in bwetween?

The WAVE Im seeing would suggest
a B wave low at 10am [13hr] on the 14th with the 10am HIGh 13hr hi on the 16th.


mbeider said...


>>Early Power data seems to indicate
a WILD RIDE Monday to WEd

Monday at 300 all day
Tues opens at 300, jumps to 600
WEd opens at 300, jumps to 600

I thought your Power Index is generally indicative of up markets... Is it not the case?


Jay Strauss said...

NO the POWER index daTA
now only 50% accurate