Tuesday, April 17, 2012

Market Timing-Whats Next -APRIL 17th EKG & SPX

Market ignored the earlier dip as indicted by the EKG, and only spent the DAY in rally mode
NO its NOT 100 % and sometimes even less than 80% , but that's what an AVE of 80% is all about & some days are more than, and some days are less than.

As far as ELLIOTT wave, there are counts all over the place and each one is slightly different
was it 5 waves down from 1422 to 1357 or was it an a-b-c for wave A.
from 1357 to 1392 certainly looks like an abc to What wave B or 2. IF 3 waves UP, it cant be a wave 1 of anything, so that should mean there is a retracement wave coming shortly - retrace to what level? back to 1366? all the way to 1340 or even 1326?? and WHEN??

Many people pointing at April20th 
LOW ??

Some call APRIL 20th a DAY OF INFAMY as it has been 
connected with any tragedies in the past. 

SO, maybe we can come to a middle ground-- lets GUESS at a possible HIGH on the 19th with a possible crash like one day slump on April20th, which should start down on the 19th.

MOST option weeks are biased higher and this week appears as NO exception , but we have also seen the high & TURN occur often on Thsday, with Friday as USUALLY benign, but that could change this time since benign is NOW sort of expected by the trading community.

ARMS data rang out a SELL today, but there can be delays for the mkt to react

We expect a lower open tomrrow, DUHH, but we are also going to judge the wave based on just how low that open is, and where the mkt stands at noon at 120bars.

See yuh then

April 17th   


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