Friday, August 20, 2010

Friday August 20 EKG

Another GOOD representation
Now at 69.6%
will go out for big dinner at 70%-- [gg]

GOOD START- keep it going
Broke under 1070, and now testing it at 11am

Failure here should mean much lower


ARAK said...

Flat close Jay? Look like a ramp into the close

Jay Strauss said...

Its not written in stone
BUT 3:30 is 126bars, so the close could offer a little reprieve


Anonymous said...

its not impulsing down,still support being found and a few buyers here and there.the way the open was sold it looked possible.a convincing break here of 1067 and im scalp long for the day.a big fat red candle needs to show up very soon though.

Alesund said...

As after8 has noted, markets are not impulsing down, suggesting that there is more upside to come unless we can start heading down in a hurry.

Anonymous said...

just noticed,chris carolans dow solunar model has us going up into the 23rd+ or - a bit.then a steep fall down into the 15th september.needs to get cracking by next far we're just range playing.

Reza said...

We have POMO on 24th & Wed.

Jay Strauss said...

Looks like we got an initial 5 waves down to 1063.91 at NOON

And now floundering in a retrace wave that is just floating along.

Noon is 90 bars

next pivot lower should be at
120bars at 2:30pm
126bars at 3pm

Positive energy at 2:49pm

Might start to impulse lower after that, but would have to bypass the bar cycle

We are following Lavoie's SPX 500 path matching the Jaywiz August map.

I reproduced Carolyn's chart earlier this month - just scroll down on main page to an earlier date.


Alesund said...

I hate to disagree Jay, but it looks like we get a good rally next week. We are clearly not in P3 yet.

Anonymous said...

closed my scalp long for 4pts.flat and ready for next weeks offerings,whatever they may be..anybody who thinks we're going lower had better sell now,because if its just expiry shenanigans today we could wake to the mother of all gaps come monday.nothing to suggest that really,yet,but its coming soon i reckon.