Today's key times are as follows
negative influence of 180 bars at 10;30 AM
minor positive influence at 11:46 am
negative 204 bars at 12;30
Negative influence after market at 3:22pm
Im getting ready to BUY a POTENTIAL huge rally on FRIDAY, but Im going to wait till late Thursday as the electromagnetic energy levels remain high thru Thursday.
today, overall calls for a better day than yesterday- thats quite obvious- very rarely will we get 2 days like yesterday back to back.
CBOE- PC ratio quite high at 1.45 = bullish
OEX pc ratio = 1.38 also bullish
spx 500 pc ratio =2.18 ditto
Vix 18.23 = Ditto
SO, its just a matter of waiting for the wave count to complete its downside action.
best wishes
Jay
PS; I did warn you to take your profits yesterday on any shorts or puts that you might have bot on Friday.
2 comments:
Hi Jay,
In all of your technical's do you see Silver breaking out to the $13.30+ region by close this Friday?
Metals are on the same track as STOCKs and are headed LOWER till May 10th
I dont see any breakout for metals till LATE 2008.
IT took 5 years to get from 250 to 750 last May 2006, and it will take at least 2 yrs plus to gain some traction for a MAJOR move higher.
check out a 40 yr seasonal chart on silver and gold and you will see a TREND change LOW on May9th
the XAU/Gold ratio hit 5.00 for the first time in a while and should get a ONE DAY POP this Friday along with the market
Jay
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