Wednesday, June 08, 2011

Market Timing-Whats Next -June 8th - Closing Report

June 8th @ 8am

Advance EKG for TOMRROW AM - THSDAY open

Previous comments indicated potential to get back over 1300 yesterday,
and there was some evidence to support that premise

Yesterday we got  1296- 1290- 1296   - a clear ABC for wave [iv]
which means wave [v] NOW in progress & SPX to 1200 or lower by Friday

THE EKG for TODAY shows a mid day low, rebound, and late drop off
Thsday, so far as is available shows exactly what had been projected by other means
for an OPENING dive to the LOD, imv.

what are today's influences
204bars at open - a no brainer at the moment
228bars @ 11:30
258Bars @ 2pm

minor Pos energy at open, & at 8:45 we can see its influence bringing the futures back from the brink of disaster, but its very short lived exactly at 9:30
Neg energy at 12:32
Neg energy at 2:05
neg After hours @ 5pm
13 day cycle pivot at 11am,

OPEN dive seems only the beginning - so watch closely to count 5 waves to a low point
3 waves recover, and start the next 5 wave decline ending tomrrow AT OPEN

PREVIOUSLY, we projected Thsday to OPEN DOWN, and then spend the rest of the day in an uptrend
The EKG, and POWER DATA are in SYNC with that outlook.

More later


Jay Strauss said...

THE MAIN cycle is 258bars or 21 hours and has been consistent
at giving us good pivots
Today, 258bars @ 2pm converges with Neg enrgy at 2;05
SO, Im thinking a pivot low about that time

2pm appears to be the second dip on the EKG
the first dip may have already completed at 1280??
1280 is a level that was discussed in May

16 pts down in wave i.3 from 1296 to 1280
wv ii.3 ?? now in progress -noon high ??
16 x 38% = 6.11 + 1280.21= 1286.32 right there now at 11am
HIT 1287.02 in what looks like a 5-3-5 At 11am
13day pivot not in effect

could get another dip to 11;30 @ 228bars and high at noon
IF 50% = 8 pts to 1288
but in a 3rd wave down leg, I dont think we can look for much more than 38%
Got a rebound of 6.81 =43%
was that wv a.ii.3 ?? or wv ii.3 complete??
Once they break under 1280, we will see the wave progress to the next lower level

1277 has been plugged as main support by some techs
if 1280 wave wv i.3 = 16 pts
16 X 1.618 = 26 - 1296 = 1270
2.618 = 42 -1296= 1254
for wave iii.3

Jay Strauss said...

LOOKS LIKE wave ii hit at 1286/7 on a rebound abc FLAT from the 1280 open
1pm coming to wave ii of next degree lower -
IF so we should see the mkt start to deteriorate under 1280 by 2;05pm
regardless of today's mystery day
One thing Im quite certain of
TOMRROW AT 10AM will set the wave iii.3 LOW
iv.3 at 10:18 Friday
v.3 on friday

Friday's psych read
Joy turns into a PUFF OF SMOKE