That MID day DECLINE now looks like a closing decline, but what does that do for that expected late rally?
simple - as has happened before, it moves the LATE action into the next day
In fact the EKG for tomorrow does indicate an up open and
as mentioned several times, a NOON high and more serious turn lower afterward.
Jay
Typical bear market days open higher, and close lower
Does look like much ado about nothing todaysomewhat Mixed to a positive bias
Mid day bars cycles =
150bars @ 2pm
OR
156bars @ 2:30
Could be that mid afternoon pivot as shown on the EKG above
TOmrrow - still expect a NOON high & turn lower into a 39Hr cycle low at 10am on the 18th
Monday
rough edges & some emotional turmoil
get early start
Tues
Easy going in the AM
Noon discomfort
Wed
Dissatisfaction
Ths
Disputes early
renewed harmony
Fri
feel good day
make progress
Mid day surge
Jay
6 comments:
a few weeks ago, the Commodities
and Futures Trading Commission announced that "investors have made
more bearish bets on the US Dollar today than at ANY TIME IN HISTORY."
You know what that means: A BULL market for the $USD soon, which will crush Stocks and Commdities.
Abdullah
We are expecting as mentioned
a LATE month serious selloff
As for this week, we are now looking for a low at the 39 hr pivot on Thsday at 10am
Jay
Jay: you've been right on lately. Interesting that EWI still has us in a 4th wave, with a higher high coming in a few weeks (above S&P 1227) but I suspect,( dare I say it!!!) that market never does what we expect, and that the high from March '09 is in... Now let all the bulltards attack me
I was just looking at the interest and volume in SPY puts from $100-115 and I see huge interest and volume on them. Either someone knows something or someone is going to take a huge loss on them puts. Options expire this week and one way or another something could be cooking. SPY is currently at $120 for SPY to go to $110 or so we would be seeing quite a bit of losses.
http://www.google.com/finance/option_chain?q=NYSE:SPY
Given the fact that the US stock market (& other markets!) is being propped up by the US FED during its “thrice-a-week” POMO actions, what I find very interesting at this juncture is the fact that the FED is planning on POMO actions for every trading day this week (i.e. from 15 Nov through 19 Nov).
The million dollar question now is whether the FED’s daily POMO actions will be sufficient to counteract the stiff head-winds that are against this market.
Abdullah
POMO only helps the mkt, or so it seems whent he UPTREND was firmly entrenched
BUT that has changed, and its a NON event
C
ARE we IMPULSING LOWER ?
Or are we still in a corrective pattern of threes??
Jay
Post a Comment