Wow, what a battle with Chrysler !!will it show up on the big board as a draw down?
BUT
Futures are not wavering so far at 9am, still up about 100 dow pts
Chrysler announcement now at NOON today
_________________________________-
Kenny's charts ABOVE indicate some weakness dead ahead but nothing dramatic,
and I tend to agree - internals are indicating the next move should be down
but the market still appears to be challenging the spx 878 Murrey math level
______________________________________________________
So far they have attempt twice to get above spx878, and both times have been set back.
836 was the previous low, and now we might look at 847 for near term support
assuming we fail to hold above spx 878
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I have previously proposed May18th for a major high, and that still stands,
but in between there is some volatility that needs to be worked out
that brings to today's update
propensity index has potential to top out at open drop back and try again at 3pm -
almost a repeat of yesterday
but it shows tomrrow as a DOWN till at least mid day and the power index agrees
Astro for noon has a negative moon # pluto and could be the LOD.
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Monday and Tuesday next week represent 108 & 109 tr days from Nov 20,
and should set a short term low
the readings for both days also agree with that
Yesterday's late sell off after 2:45 met with the 258 bar cycle low which appears
to have been about 30 minutes late, which is unusual, but looking back at Tuesday
we see the 180 bar low also was 30 minutes late- what does that do for 90 bars @ 4pm today?
Not sure but its scheduled for today's close and the propensity index seems to agree with a late
sell off.
we''ll see how the Chrysler announcement effects trading today after 12 noon
As you can probably tell, Im not as precise as usuall, and thats probably a function of
the atmoshperic conditions today.
for example - todays reading
Keep your cool & stay away from contrary people
expect CHANGE and stay with what has worked in the past
IMO<>
7 comments:
Tim Ord measuring for confirmation of top.
http://www.traders-talk.com/mb2/index.php?s=f03fe9bdf8ed066e2191b9b1e26e2341&act=attach&type=post&id=10804
Coy, The link does not work can you copy thanks E
the link worked for me, opens a pdf in a window. I use firefox.
best,
a
I really have to tell you that TODAY will NOT be a TOP.
spx 780 will not be seen on this trip
Yes, a short term high is at hand and should make a low on Monday, or
Tuesday, and Ive been writing that for at least a couple weeks
however, Ive also written that we should expect the May5th date to be a pivot low which will get the SPX over 900 by Mid month
After mid month= May18th we are also expecting another DIP to the 22nd
BUT the market will not give up its hard fought gains too easily and should make another run to a
somewhat lower pivot high & turn
late May,
And Is Ive also written several times, but its a long way off for us now, we expect june18th to be a MAJOR pivot low and huge turn for a huge summer rally which could get the spx over 1000
more later
Jay
Jay your views on the Sun Square Jupiter on 5/16/2009. which is mid May.
U.S. Bank Test Results Delayed as Conclusions Debated (Update1)
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By Craig Torres and Robert Schmidt
April 30 (Bloomberg) -- The Federal Reserve will postpone the release of stress tests on the biggest U.S. banks while executives debate preliminary findings with examiners, according to government and industry officials.
The results, originally scheduled for publication on May 4, now may not be revealed until toward the end of next week, said the people, who declined to be identified. A new release date may be announced as soon as tomorrow, they said.
http://www.bloomberg.com/apps/news?pid=email_en&sid=aPVqgPJeDyzE
Idris
May 15th at 7pm
Venus 45 Neptune
ROMANCE and or FANTASY
May 16th @wee hours in the AM
the SUN 90 Jupiter on May15th is accompanied with
EXPANSIVE OPTIMISM
and its followed within a few hours by SUn 60 Uranus = also quite positive.
17th Sun 90 Neptune
Idealism abounds, maybe too much so
18th
Sun 0 Merc
align yur goals with caution &
become financially sensible
19th @ 10;23 am
Jupiter 30 Uranus
Luck & good fortune
the day is also filled with positive lunar aspects
sun 60 moon
that was the YING
NOW comes the YANG
May20th
Merc 90 Neptune
Perspective skewed & confusing
Venus 150 Saturn
Stern & Abusive
Merc # Pluto
$$ encounters a harsh controlling force
Merc 90 Jupiter
lots of talk, but no answers
May 22nd
Mars II Saturn
RESTRAINT and blockages
sun 45 Venus
a lighter feeling
23
Sun 10 pluto
authority will try to control
24th Sunday New moon
Restlessness
25th memorial day
_______________________
SHIFT BACK to YING
26th
Mars 30 Uranus
take action - explore new
Mars 60 Jupiter =ENTHUSIASM
Mars 60 Neptune = Inspiration & hope
27th
Jupiter 0 Neptune
Inflated & unrealistc hopes & dreams abound
More Later
Jay
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