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

Wednesday, June 01, 2011

Market Timing-Whats Next -June 1st Morning Report

 Heres another example of snipping out from the data stream, that shows a better EKG in advance
Its ALL THERE, then its just a matter of what points to start and end what gets published
June 1st at 8:45am

DONT be misled by the Amplitude of what looks like a great recovery- it may or may not happen
as shown, but a recovery of some strength can be anticipated

90bars @ 11am
126b @ 2pm
150 b @ 4pm

Power data is biased lower today.

Debt ceiling bill & voting a sham. imo.

Flipping the reading over to today
Unstable Early
Tread water later
SINCE YESTERDAY closed higher than the OPEN< we might conclude the
ENTIRE retracement has concluded, but that would be a very rash statement, underestimating
the potential for a dip and recover as the JUNE monthly graph shows for the 8th

IF that high 1345.20 was IT for the {B} or (ii) wave retracement, the mkt will have to prove to me.
If there is another UP leg in the {B} of (ii) wave, then the price should hold above the 1312 previous low on May 24th. , and we would need to RE Evaluate our Elliott labels
IF the MKT breaks nearer to 1300 on the next leg down into the 3rd and or 6th, then our Elliott labels
Seem to be correct.

Impact stream similar to ekg

Looks like weakness in the Am, and possibly a somewhat recovery

more later


Jay Strauss said...

120bars @ 1:30pm hit 1322

4pm has 150 bars - should close on LOD

Expect rally at open tomrrow.


Jay Strauss said...


Eclipse at 5:03pm

150bars at 4pm = lod

might challenge previous lows @1312??