Wednesday, July 13, 2011

Market Timing-Whats Next -JULY 13th Wave REPORT

WAVE [i] DOWN shows 5 distinct waves & seems complete at 1314


1344-1314= 30 pts for wave [i]

Wave [ii] can be any of the following fibo levels
38.2% = 12pts to 1326
50% to 1329
55% = 17 to 1331
62% =19 to1333

SO FAR we see 1328.62 level as BEN begins to testify

IF THE ABOVE is TRULY wave [i]
then what might be the prospects for wave [iii]??

30 x 1.618 = 49
30x 2.618 =79
30x 3.618 =108

You can subtract from 1334

High Energy should wane by 11:08 am
and a secondary high could occur at 1:30pm

30bars at noon coincides with Neg energy

 more later



Jay Strauss said...

I want to quote something from the Bible. In Ecclesiastes Chapter 1,
verse 18 there's an interesting verse, and it says...

"For with much wisdom comes much sorrow... the more Knowledge, the more grief"

One would think that is a counter intuitive statement, but no, it's
right on the mark. Look around at "average" America. Go to the mall.
Watch the hordes invade Walmart. Watch the rabidity of any group
watching football on Sunday. Watch Judge Judy or any of the other
copycat "reality" shows, and what do you see? Clueless people. People
consumed in their own little private Idaho's, and having a grand time
of it all.

It's only nutcases like us that fret. Why? Because we know what's
coming. It's not that I'm full of wisdom, I simply connect the dots
and the picture the dots draw is quite ugly. Thus, the more knowledge
the more grief. The passage is correct. I thought I would share this
with you. Feel free to post it in your blog.


Jay Strauss said...

Jay, your forecasts have been deadly accurate. Wanted to let you know that we've been tracing out a massive bearish divergence on a weekly New High-New Low chart of the NYSE for about the past year. This is exactly what happened in 2007 and we know how that ended. This is one of Dr. Elder's favorite market breadth indicators. It would fit really well with your thoughts on Sept-Oct.

Sent from my iPhone