Tuesday, January 04, 2011

Market Timing-Whats Next -Jan4th PM update

As we can SEE from the IMPACT stream above, the ENERGY pattern is in WANING MODE
and the mkt is dropping from the open highs. THE HIGH ENERGY pattern ended at 8:40 AM.
THE POWER GRAPH also shows the same for today, and a possible low pivot tomrrow agreeing with the Alphie chart. -
180bars @ 2:30
Commodities selling off today - CNBC wants to know why- guess they thought it would go UP forever- well we all know what happens when the majority think that way.
Jay @ 1pm

TODAY'S BIAS is still to the upside as of PRE open


Abdullah said...

"Commodities selling off today - CNBC wants to know why"

They have gone UP too fast, today is profit taking.

I will be buying Gold/miners when $900 and when silver at $15-$18. It will come down.

Abdullah said...

Pretty weird action for a Tuesday. If this was Wednesday I'd chalk it up to a classic Wednesday reversal, but it's certainly not Wed.

Abdullah said...

So we popped out of the gate and then drifted slightly red. If they were serious about selling, they certainly could have done a lot of it by now. But instead they're taking profits here and there. Look at Gold, oil, commods.. that's definitely profit taking.

Abdullah said...

I have to say the volume on the oil, commod dump is really impressive. If I'm right about a coming market dip, someone's anticipating getting out of their high fliers right here and NOW.

Jeff said...

Armstrong said that $950 bottom of support channel for Gold, around June '11

Jay Strauss said...

It looks to me like NO ONE cares or uses the daily EKG, so I guess I'll stop spending my time providing it, & updating the data

stockdoc said...

Jay, I like your daily EKG and think that you are remarkably accurate. Always enjoy your site, and sorry for not posting more.

Jeff said...

Jay, I very much appreciate the EKG. Hope you continue to post it. Today was great!

haagensen said...

Hi Jay
The EKG is the ( also ) the Magic of this blog.. please dont take it down..

Is there any magic to signing in to this looks like I always have to create a new blog, before leave a comment ?


Ps. looks like the market is heading down until Feb/Mar

Jay Strauss said...

Mike, Im not sure why you are signing in
this blog is OPEN & FREE

maybe publish your comment requires
something extra-

Can anyone else help Mike out on this?/