THE FUTURE

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Monday, May 16, 2011

Market Timing-Whats Next -May 16th WAVE E progress report

THE SYMMETRY of the above wave would indicate we are within WAVE 3 or as marked above
between waves (b) & (c)

As such the graph would also indicate an ending low equal to the difference between 1344 & 1370 =26pts
BELOW the previous low at 1250 which would set this middle at 1250, and the lower wave "C" at 1224.


the lack of a very serious plunge would seem to confirm the above also, but the day is still young.

Jay

15 comments:

RickyBobby said...

Not a bad rally so far today especially in the TSX which I trade. I just wanted to demonstrate the power of my system's predictive ability, so thanks Jay for letting me post my comments.

There are several cycles hit today, namely my 8day/4day cycle and everything underneath them. However I'm watching closely my proprietary confirmation signals for the next larger cycle. If by some chance it triggers we could be in for a larger rally. I don't favour this scenario...YET, but worth keeping an eye on. My primary scenario is for this rally to climax at today's end or sooner or later by tomorrow morning then short into late week.

RickyBobby said...

btw, I don't really follow sentiment indicators but there were way to many many blogs, forums, web pay sites, etc that were bearish. That's never a good sign when it's just about unanimous.

Isn't it unbelievable how so many bloggers are charging for their work? They must not be making enough money trading I suppose. There are far too many factors that can cause a trader to lose money let alone trying to follow someone else's work.

Oh well.

Jay Strauss said...

JUST AS The EKG showed us, we started out lower and rebounded

NOW WHAT?

STILL IN THAT DESCENDING WAVE

More to follow
Jay

RickyBobby said...

I got my rally and got my nice profit. Already shorted the hell out of this thing.

joed said...

I do not charge for my blog.......But I am amazed at how many ppl think everything is free and make demands! Oh well!

http://traderjoed.blogspot.com/

RickyBobby said...

No more freebies. bye.

hahaha

joed said...

What were they! Colgate coupon! hahahahahah

Reza said...

Joed

Nice blog

joed said...

Reza.......

Thanks! Kind of ya! joed

john said...

Nice call

cementzak said...

tomorrow we get the ugly wave, finally

sincerely
cementzak

Jay Strauss said...

Amen to that Cementzak
Spx could seek a number of targets

1325 to 1318 = a 15 pts loss
not really that much

1295-1300 = 29pts, but still not impressive

1250 would be very impressive, but I really doubt we will see them give up 80pts

using the 40 pt rule of thumb, might work getting to 1290

Just under that support of 1294, but not enuf to crak open the coconut

Altho 1250 = 80 pts or 2X 40

2;30 is 126bars and neg energy
Jay

Jay Strauss said...

IF the TARGET is 1250, they had better start out with a BANGER

J

Jay Strauss said...

I dont know what blogs your reading Ricky, but MY yahoo group is DEEAAADD

and that usually occurs near tops

They get red hot at bottoms, when the Neg sentiment gets heavy.

Jay

joed said...

I am looking for 1255 within my next bottom date.........my neural net system goes short on the open in TNA! Good trading! joed


http://traderjoed.blogspot.com/