There are some indications the Higher OPen that I anticipated for this morning
MIGHT happen on Wed at open, but the balance of the day should sell off
leading to an OPENING low on the 26th
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today, so far, hit the low notes and high notes on schedule
9:45 LOW & 10am high
BUT more important
10:45 am was the 60 bar cycle right on exact
THEN 1:30 pm a MINOR dip at 90bars
Its Now 1:40pm and counting
The DAILY Activity index is bouncing between 133 and 266 in a very narrow range
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Hourly turned up at 11am & 1pm
OK now its 7 pm and the CLOSE hit a low
AT 126 bars
THAT LEAVES THE DOOR OPEN FOR A BIG RALLY
ON WEd AM
WEd looks LIKE UP / Down / Up & DOWN at the close like today.
WHY ? Because the CLOSE is at 204bars and should close DOWN
The Power index seems to be RIGHT ON THE LINE between
Wed & thsday, so it accentuates the potential for another sell off
or at least giving up its early hard earned gains
The 26th however, is calling for a run for dow 8000 is likely
The AM of 27th wants to take it away, but should give it back later in the day.
MORE LATER
Jay
Nice call Jay. So do your readings still show market to consolidate/sell off today or head higher in to month end?
ReplyDeletePeter