Once again we have SUCCESS with the EKG still at 68%and it appears the OBV & macd indicate a lower open for tomrrow
150bars @ 3pm was only a momentary blip on the way down off the earlier highs
BUT tomrrow could give NO REAL evidence of weakening until late in the day
Repeat the reading - $ wasted & avoid risk
Jay
Today's energy as previously described is BENEVOLENTBut after today, we will see the real identity of the CURRENT WAVE, and it is
NOT benevolent.
It will LEAVE NO DOUBT what has happened, but the major move will come
from the energy coming this WEEKEND SHOCK-
the kind that we havent seen in a long time.
That will SETUP the WKEND FEAR SYNDROME that will follow the
MARKET higher as it climbs a WALL OF WORRY , but all that will WAIT until
AFTER THIS WAVE ends on SPT 1st, making it into next year- to be discussed later.
YES, as noted before, of course there are setbacks along the way,
but on August 24th, the ARMS 5 & 10 will be DRAMATICALLY higher leading to a TECHNICAL rebound as mentioned above.
I had previously NOTED the WAVE structure that I anticipate from
NOW till Spt 1st, but here it is again.
The EDT ended on Aug9th
wave 1 ended yesterday at OPEN
wave 2 ends today, and or tomorrow AM
wave 3 ends possibly on August 25th, and it should take the from of FIVE waves of its own.
It is also likely, to expect the mkt to LOSE 10% by Friday August 20th
from its original high on August 9th at 1128 = 1015 Approx value
and the OTHER 20% in wave 3 of 3 of 3 on Monday August 23rd
leaving [4 of 3] & [5 of 3] for the 24th and 25th- expect INTRADAY WILD SWINGS
wave 4 to complete on or about August 30th in the AM
& last but not least
wave 5 to complete by SPT 1st
more later
Jay
the mkt next 2 weeks should emulate the 1987 CHART I published
Fascinating time line -- USING the 377 Day CYCLE identified by Stan Harley
A Major cycle low was due in April 2007
but it occurred on MARCH 13& 14th, 2007
Add 500 tr days get us to MARCH 9th, 2009
Add 377 trade days = Spt 3rd, 2010
As previously mentioned, August 24/25 falls within the 370 to 377 tr day cycle
6 comments:
kudos jay,everything going according to plan this week.im just wondering if they hang it around higher levels for expiry before the big drop? turn due on the 20th
after8
Of course that could happen, but the
energy says otherwise
Jay
These are the days the fed buys the T bills and the Primary Dealers have all the liquidity like they did when he was printing last year
Today was the first...August 17,
August 19, August 24, August 26, and September 1. Shorting on those days has once again become implicitly illegal
Right or wrong the current forecast is "hanging" it out there and I have to respect that!!!
Jay,
I give you full marks for guts in predicting a crash. I really want it to happen. But whenever I hope for something too much, it never seems to happen.
If your prediction comes true, we will all bow down before you.
Alesund
Jay,
Any thoughts on what might trigger things over the weekend? My guess is 20% drop will have to be political in nature (Iran attacked?). I do have to give you credit for calling direction/magnitude & timing in the same blog. Most bloggers avoid both to try and keep the confusion going and say "hey, look I called it." If it doesn't happen next week, at least you put it out there.
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