Its 8am and OUR futures are in dramatic opposition to Europe
My propensity index DID take a TURN lower overnight
the POWER index had been indicating a DROP today as of last Friday
Natural energy also indicates a drop this week
Today We see a lower day, somewhat up mid day of course,
and a lower close which should lead to a lower open on the 14th and repeat
the process one more time to meet a 156 bar low on the 15th at open
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Even tho the Bradley - 8 day low & trade day cycles hit on the 16th,
I see the actual low on the 15th at open , but that could adjust as the wave develops
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more later
Jay
If IWM breaks $45.60ish I think it'll be off to the races for TZA. Etfs are great for very short term trading imo
ReplyDeleteIt almost seems like xlf is flagging/consolidating for a large move tomorrow. GS earnings release is tomorrow premarket.
ReplyDeleteJay, is it possible that we may set a new high near 875 tomorrow? 875ish could be the final impulse move up b4 we have a decent pullback. The charts seem perfectly set up for that. Ever since Pandit from Citigroup announced they were profitable March 10th, the financials have been on a tear. WFC's bs report last Friday pushed us out of the triangle and now GS tomorrow may launch us higher to finish the move off. What do u think Jay?
ReplyDeleteI never like a short position with the SPX is outperforming the DIA.
ReplyDeleteShorts - be careful out there.
Now I'm short now with a stop ofcourse.
ReplyDeletealvin
875 spx - Maybe next week but NOT THIS
ReplyDeleteweek
Jay
Im expecting to get ready to BUY the PIVOT low on the 16th at 2pm
ReplyDeleteA dow rally to near 9000 would be equal to near spx 100 pts to 930 level, thus surpassing 870
900pts lost x 29.2% = 263 pts + 667 = 930
Could make it by April 22nd
BUT it wont be easy
Once we get a rally on the 17th, I would be inclined to take the profits at close and wait out the 20th, and buy again
Jay