Friday, October 22, 2010

Oct 22 EKG & AM comments

NOt bad
NO IMPROVEMENT - sure was none
Even tho the graph shows a late rally higher, it doesn't not have to occur that way, just as yesterday did recover off the 2pm low, but did not make higher highs.

The NUMBER of ASTUTE market analysts are NOW calling for an immediate TOP, and drop

Evidence is gaining sending warnings to certain groups of elite traders

Is it real or memorex? [g]

FULL moon tonight might STILL be holding this baby in tack

Elections more in focus than stocks?

Wave has made a series of 3's since Oct 12th, and yet it is still in a possible expanding wedge
w one more high, otherwise it would be plunging in the retrace wave, and its NOT happening

more later


Pramod said...

Dear Jay,

Based on your EKG, what time will the high of the day be at?


xenne said...

what we've seen this week is a collection of 3 wave moves, this opens the door for a triangle, and that is a bullish formation


Jay Strauss said...

It doesnt work that way
the EKG is NOT precise enuf to get an answer to that question

we have to look elsewhere to get some idea of today's high

I look at the pivot lows, and fit the highs in between

Neg energy at 11:35
180bars at 1pm
204b @ 3pm

IF 10am finds the dow on hold, flat to higher, that might be the hod.

according to some, we have a series of 3-3-3-3-3 from oct 12th, thus making a classic EDT

ONCE it gets to the end, we will KNOW FOR SURE it ended as the mkt should make a shocking statement


Pramod said...

Thanks Jay!

stalion said...

I tend to think that they will keep us green today.. they spent a lot of energy getting us this far, and I'm sure they'll want to put on a good show for the weekend talk radio's.. so.. we should be flat to green all day at minimum.

pimaCanyon said...

who are these "astute" analysts calling for an immediate top?

The obvious is that the market will stay up till early November and then sell off right after the election or after QE II announcement. Too obvious? We'll see. The market often does the obvious is a not so obvious way, so I have no idea how this will play out.

xenne said...

boring day, locked in a small triangle. it will probably break to the upside as indicated


xenne said...

well, we've been stuck in that triangle all day and break out of in the last minutes. so expect a gap up on monday... it is clearly a 3 wave up move again so short the pop, you never know that one more pop will seal the deal


Jay Strauss said...

it looks that way

as previously mentioned

39HRS Monday at 10am plus high energy indicates ONE more run to 1090

That should NAIL it down

ONE read for today was

sure was NONE

FULL MOON holding up its end of things as usual

BEAR MKT Monday open HIGH at 10am
last minute retail buyers trying to get in b4 elections

NO way the mkt is GOING TO JUST WAIT for elections & QE2
then crash

We only look at coincidence of events against mkt reaction

Mkt doesnt care who gets elected
only that the UNCERTAINTY is OVER.

UNCERTAINTY prior to elections
can play an important role


and one more shot Monday AM to 1089 should do it
1+8+9 = 9


ARAK said...
This comment has been removed by the author.
ARAK said...

US Peso flash crash. Ben got some high speed printers installed for QE2. This is just the test run.

AS said...

Jay - we are at 1189 not 1089 :)