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

Friday, June 17, 2011

Market Timing-Whats Next -June 17th - Closing Report

IF I Snipped  OUT this SECTION from the DATA stream, it would have fitted today's activity much much better than the EKG shown below, but each day IT'S a VALUE judgement that I have to make deciding when to start and end the EKG graph, 
thus there will be some variances from time to time-Jay
June17th @ 8am

THE FUTURES ARE indicating a strong open, and that makes it unlikely to see another low today

The DIP shown above might come at 10am on the LEI & Consumer sentiment data

but that could just be a back kiss on the line formed at the 1269 range

Psych today calls for RELIEF from the last 2 days

Rally should run into Monday and part of Tuesday, the summer Solstice

A continuation of the EKG shows a LOW CLOSE OFF the Mi Day's highs
Which agrees with the POWER DATA, and I notice HELGE has the same for today,
BUT I tend not to expect such a dramatically lower close, but off the highs at close.

In other words, yesterday's low at 1258 might have been enuf for this wave--see the chart below

more later

If they run above 1274 to 1279, then we should probably use a higher level to work with

1292 - 1258 = 34 - ahhh fibo
+13 = 1271
+21 =1279
+27 =1285

87x 38% =33
33+1258 = 1291
see Daneric's blog also

ANY set back off the 10am HIGH should occur 
258bars at 11;30am 
10am HIGH holding at 1279.59
could back off to the 1270 line

1 comment:

Jay Strauss said...

258bars @ 11;30
30b @ 2pm
13 day 50% segment@ 2:30

Theres nothing else to hold it down after that

High energy at 3;10pm