THE FUTURE

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Wednesday, March 16, 2011

Market Timing-Whats Next -March 16th CLOSING

March 16th @ 8:30am


LOOKS LIKE MUCH ADO about nothing

IM inclined to short today's close

Today's psych calls for modest gains

Tomrrow's psych
Agitation & confusion
Opposite of yesterday
Jay

11am update
Contrary to what the ekg shows for open, we got the second leg lower right away, but looking at a graph from Monday's close, we can see the rebound is occurring in a typical 3 wave pattern called ABC
Yesterday at 3:45 at 1288 looks like wave [a]
This morning low at 9:45 @ 1273 could be wave [b]
potential for wave [c]
1232-1261= 71 pts
71X 50% = 35 + 1261 = 1296
71x 38% = 27+ 1261 =1288
Jay

90Bars and NEG Energy at 11;30 in just a few minutes as the mkt challenges the 1261 low made at open yesterday- any rebound should start after 11;30 and will probably only end flat ont he day at best.

7 comments:

Jay Strauss said...

ANY REBOUND THIS AFTERNOON NOW LOOKS VERY LIMITED

a CLOSE that comes off any intraday low IMO, looks like a shorting opp
as previously mentioned

Jay
a SHORT TERM LOW should occur on Friday morning at 10am

Abdullah said...

There are major TECHNICALS damage and its only an indications of more DOWN to come.

Jay Strauss said...

HO RALLY IN SIGHT

I bot some shorts at 1;20, and will add more later

Tomrrow's outlook LOOKS BEARISH

THE SELLING from here to the 28th could increase exponentially

Jay

John T. said...

Jay,

What is your target for the SPX by the 28th? Just curious how much downside potential you think is in store for the bears out there...

Abdullah said...

John - I think we could see SPY trading as low as $118

Abdullah said...

VXX/BGZ exploding higher!!! hope you guys picked up some as I told you about the FP for both last week.

Jay Strauss said...

JOhn T
My yahoo group has estimates from
900 to 600 ?????

MY GUESS IS
MARCH 28th

Jay
all I can tell you
IT WILL BE SUBSTANTIAL

SOME one AWOKE the SLEEPING BEAR

Dollar crashing tonight
SPX futures lower
break 1250 should get us to 1200 area by Friday