Once again the traders EKG did a fairly good job of showing the direction of trading during the day.
that last uptick turned into a drop off at the close, but like Ive told you b4,
the end of day depiction is difficult to define as the data is streaming
and i have to cut it off at my discretion
Jay
Day trader EKG is still 70% accurate daily since inception on March 24thToday's reading agrees with futures and the POWER graph data indicates a LOW CLOSE today, or at least a low at about 2:22pm on some negative energy.
Expect a stressful day today
60bars @ 10am
90bars @ 12:30
126bars @ 3;30
It appears the 144 tr day cycle of May 7th might provide a short term low today, but the LOW
of a developing triangle might be more apt to end on DEC 21st.
Dec21 has a convergence of cycles
55 -Oct4th - a low
110- Jly16 - a low
165 Apr 26. a high
220 Feb 8 - a low
more later
Jay
14 comments:
Last week, the selling to buying ratio, was OVER 8000 to 1. The very insiders who come on TV and tell you how great business is, are still fleeing the market in droves. The mom's and pops of the world are needing 401K money to live on and they've been steadily pulling out. So the only thing left is the whacko from the Federal Reserve in concert with the crooks on Wall Street to manipulate this thing as far as they can.
Abdullah, my situation is like you. I still stuck in shorts, tza , typ and soxs. this time was without stops and still stuck. invest intelligence: 55% bulls, vix : giant bull flag, insiders selling, is the only hope. Atilla, PUG et talking about 1300 others 1500, making me very nervous
Rose
Its really BEST when those people talk about spx 1300 when its trading under 1200
And they might be near right for January, but 1130 is a level that a wave 4 triangle would have as a natural magnet
and as noted Dec 21st has that convergence along with some negative energy as the Full moon occurs at 3am, so not to interfere with trading
Jay
rose - I sure would like to see some major pull back to unload my shorts. I know LONG term we are hitting down to see DOW at about 5500. Next year we will see DOW 8600 and 2012 for DOW to come to ~5500.
FED/Banks keeping the DOW above 11000 ... if we just close below it we will see 10700 in a heart beat.
The only way you are going to get a correction down to the 1130 or even under 10500 is if North Korea shells a US WAR ship..
Till then I believe in my humble opinion that you might be hoping for something thats not going to happen.
The Wealth funds are pulling money out of emerging markets and bringing it back to the US market, Europe has only just started its US money printing exercise.
Consider this and if your answer is still the same then hold your shorts.
Employment will pick up this year into Xmas, sales are pretty good no matter how you look at them.
cheers
CRIMINALS!!! DOW to maintain the 11000 level while the $US going up???? the CROOKS & FRAUD are just in your face. what a time we live in folks.
Dont read to much into today, its window dressing, and mark to market day so you will get some very large distortions in the market. either up or down.
Since when was the dollar up and the market down theory a rule of law. It's a media myth which analysts made up as an excuse on CNBC and now every trader believes it and if it doesnt happen, get fustrated.
Its the same as gold/dollar both have been going up over the last couple of days why? even oil .
If you believe in charts then go find answers after the fact has haapened.
If you believe in fundementals then switch the CNBC off and read the news on the net and understand the dynamics of the market.
Put yourself in a fund managers position, what would you do, to 1 protect your capital,2 make sure your not at risk of freezing up of capital, and 3 you can still make a return.
Abdullah think outside the box, dont look at the maket like the 80%that get round up .
Thats my view I hope its helps your understand the market and the behaviour.
Educational understanding
Ok, Folks - dont go crazy with war stories or collapses of any kind
A normal correction is NOW in PROGRESS off the recent Nov19th high
But its STill going to GRIND bears to death keeping those BULLISH hopes alive
Yeh, I know, Cant wait to see it break down with a vengeance
BUt with a target of 1130, and possible date of Dec 21st, they are in no hurry and can drop 60 pts in a heart beat whenever they want, and it will probably
wait for the last minute
Following the schedule I published means we should see some STRONGER selling on Friday
leading to a lower low on the 6th and or 7th before making any recovery on 8th to 10th
ANy rally MID DAY on Thsday, should close off its highs as shown by the power graph
The Power graph is NOT derived from the same source as ENERGY graph, so when they agree, it makes for a good confirmation
I would like to see 1170 to 1155 met at least intraday by next Monday
at that price point, I can back out of some shorts, wait for a rebound and short again
So far the drop from 1227 to 1174 has been muted and holding
onto the 55 pt fibo level
1227 - 89 = 1138, once they break down with volume
more later
Jay
FT - CNBC are paid crooks. I have my own parameters and charting. I am trapped in 50% on my $ where I could of invested in other stocks where I could of loaded the boat in such as SLW.
looking for entry to short PCLN and APPL.
were now looking at an abc rebound back to 1200-1205 up/dn/up/dn over Dec 1st & 2nd
Yesterday's 144 tr day May7th did provide a short term low
Jaywiz index = 1.02 = bullish
OEX pc ratio =.21 = bearish
Each will have their moment in the sun, and at 8am, it appears the bulls are going to get the AM open.
Jay
EKG will be published shortly @8:30am
ACTIVITY INDEX is at its LOWEST value of 33 as we expect a very strong open, but what does that say about any lasting value?
It has NO lasting value as the EKG will show in a few minutes
Impact index also shows waning energy after the open
Bradley date Dec2nd seems to be pointing to a high, and the energy read for Friday says SELLING will begin again.
Jay
ADP report
go for broke at the open
Jay
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