POWER DATA ONE WEEK AHEAD - Provides an 80% Correlation to the SPX

Thursday, October 21, 2010


DAMN good for sure

Is the BULL GRIP slipping ??

Are bears yelling WOLF, once too often, or is this the REAL thing when the BEARS are ready to throw in the towel--- I CANT TAKE IT ANY MORE !!
which works at both end of the spectrum- { bulls at bottoms & bears at tops}
CONTRARY thought- mkt forces you into it.

Futures waning off the earlier AM highs at 9am

Power data shows up, dn, up

Neg energy at 11:11am
90bars at noon
126b @ 3pm

One of my sources indicates the 28th as the more important pivot low
as it also showed oct4th as the pivot low for early Oct.

That rally shown on the EKG after NOON, does not have to be a higher one

charts on the dollar indicating the LOW has been hit which would have been
@ 76.20 on the 15th

One source indicates an ODD lot sell signal was triggered Monday

GOLD high last week
Dollar low last week
Stocks high this week

more later


KAVIAAR said...

you cannot fight this Bull

Abdullah said...

Where are we this am? Well in following on yesterdays stock mania, the futures were up nicely ahead of the initial jobless reports, and then after the report they spiked even higher. Why? They say that initial claims fell 23K. What they don't like to tell you is this...FEDS REVISE LAST WEEK'S UNEMPLOYMENT NUMBERS UP TO 475,000; CLAIM DOWN THIS WEEK...

So, they hike last weeks (after the fact) and then tout this weeks big fall. It's criminal but it happens EVERY WEEK.

Abdullah said...

The Fed pumped money into the system yesterday. Now today nothing is "scheduled" so it's possible the market remains flat or even "god forbid" dips red a bit. But dont' worry, Bernanke will be back on the trail tomorrow as the NY Fed has another POMO operation scheduled.

cementzak said...

the rise from the tuesday low still looks a 3 wave structure.


Jay Strauss said...

Hi C
yes it looks like a 3-3-3
from 1160 to 1189at 11am

how does that fit into the next wave
based on what we know about elliott waves?

usually follows a 3 wave retracement from 1185 to 1160 on Tuesday

that structure usually indicates an irregular b wave top

expect a 5 wave decline now to 1100 area by next Thsday


KAVIAAR said...

buy the dip

Jay Strauss said...

Todays read is similar to Monday

dont make HASTY decisions


Jay Strauss said...

its 2pm & WERE cookin

guess we need to see 1160 taken out
to know this is SERIOUS


ARAK said...

Jay, is today the high or are you expecting a secondary high tomorrow? (based on highs this week)

San said...

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