Yesterday showed a 180 bar low at 1pm and 204 bar low at 3 pm
Today's market should start to recede after 10:53am
Either the 25th or 29th should provide a trading low
Im leaning toward the 29th and a HUGE rebound on the 31st, a FULL MOON- actually its a BLUE moon as we had 2 fulll moons this month.
259 bars at 12:30 pm today might act as a trigger for a decline today.
Next cycle = 30 bars at 3pm
Mclellan Oscilator has been reported at -100 & shows DISTRIBUTION is going on- This action is FOUND at TOPS
Internals showing weaker market daily, and that scenario can last for weeks. Internals prior to Feb 27th showed me EXTREME weakness and I reported it the WEEK BEFORE. I will do the same for June 25th.
All that is required for a very sharp retreat is some kind of trigger.
Feb 27th had NO outside influence- NO international event- NO economic event.
June 25th has the same hidden influence that occured on FEb 27th, and that would suggest a horrific decline on the 25th and continuing all that week
This week should settle back some and have at least a one day decline of 2% to 3 %
Best Wishes
Jay
THE NEW JAYWIZ 2023
THE NEW JAYWIZ 2023
2 comments:
2 - 3% decline Jay? Thats 30 - 45 SPX points and we have only seen that once in the past 12 months or so!
Love the Blog, doubt the 2 - 3%!
Jay, wasn't 2/27 preceded by the shanghai B dropping 3% followed by Europe then the US? I feel China was the trigger.
It was currious that in the past 3 days there was another 3% down day in one of the Chinese markets, but Europe ignored it and so did the US. Looks like Europe needs to follow suit.
Else the trigger will languish till the next earnings seaason and we start getting the flat to down announcments that we're expecting but haven't gotten (yet). Or else someone really has invented the perpetual money machine. TBD
tnx jay, curt
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