Wednesday, April 20, 2011

market direction, whats next

EKG unavailable- having trouble with  firefox
Looks like they will open right at the upper line at 1330 area

OK, Got it fixed to some extent

Upper trend line right at 1330

Power data showed today as an upday with positive energy reinforcing, but it also shows possible late drop off and strong down day tomrrow

In a Triangle such as this one, they seem to be tracing out, time segments are quite symmetrical.
Feb 18  high to March 16 low = 17 tr days
Mar 16 to Apr 8 = 17 tr days, but Apr 6 was closing high = 15 days
Apr 6 hi to 18 hi to lo = 6 tr days
Apr  8 hi to Apr 20 hi today = 8 tr days
Apr 6 hi to Apr 28 = 15 tr days, expected to be a low
Apr 20 to Apr 29 could be high to high, but 27th is pegged as a low
Apr 6 Hi to May 2 = 17 tr days, new moon possible pivot low
Next high indicated at may 11th
last low indicated of the current triangle due at May27th



stalion said...

I guess I could say "wow" and Holy cow, and a lot of other amusing things, but I guess I'll spare you all. I can't seem to get my arms around the way the market was just up 200+ points on "nothing"

stalion said...

Hmmm, danger Will Robinson...

In any event, The past history has shown that the market has NOT been able to close over 12,400. If they pull that off today, it "should" make enough shorts cover that we move up again tomorrow.

stalion said...

If we close over 12,400 but the S&P isn't over 1333... That's an issue. If we close over 12,400 and the S&P is over 1333 it's the green light that should take us higher to 12,700. But, if they fade the afternoon and we don't stay over 12,400.... I'll be selling.

stalion said...

sell off tommorow could be cauz of APPL earnings???

stalion said...

shorted 1K @344.78 on the money APPL ... wish me luck. YES pure gamble!