POWER DATA ONE WEEK AHEAD - Provides an 80% Correlation to the SPX

Tuesday, April 19, 2011

Market Timing-Whats Next -April 19th Morning Report

Apr 19th @ 8:15am
GS earnings a BIG YAWN< same for J&J. but pushing the dow futures higher prior to open.

What does that say about the mkt right now?

another leg LOWER today, and or Wed AM to the 1280 area is DUE.

 The WAVE structure indicates yesterday was only part of Wv "a" of {C} which should take the spx back to the 1250-1260 level NEXT week after a bouncy bouncy WEd & part of Thsdy, which can give back most of any gains, but try try again on Monday.

Housing starts up 7%, but the mkt still yawning.

Those stats and earns only have a more positive effect when they are announced during an upleg
in the wave structure.

more later



futures trader said...

Enjoy reading your comments Jay keep up the great work..

Abdullah said...

We are in a slow motion train wreck and all we're doing is rearranging the chairs on the Titanic.

So, I expect a green open, some volatile wiggles that could get exciting. I'm leaning toward a green close, but I think it will be a struggle.