Whats NEXT?
Down as previously indicated for a low on the 22nd
How low is low?
870 = Dow under 8230
840 = Dow @ 8000
Spx hit 924.50 at 10am yesterday and fell off, Specifically AFTER the 3pm HOURLY turn
and the DOW for one Second hit above May8th high of 8588 @ 8591 yesterday
Took an extra 2 days which frustrated all bears, but NOW we have our day
HOWEVER< dont BASK in the doom & gloom
AS previously mentioned several times
GET READY TO BUY THE FRIDAY LOW OF MAY 22nd- once again- sorry Tim
Vix under 30 for 2days
Jaywiz INDEX finally came off high #s @ 31 yesterday- not a screaming sell, BUT
The previous 2 days have been above 100, and all that got was CHURNING at a high
Dow at 8590, closed at 8422 = a LOSS of 168 pts
and NOW at 9:45 am is off another 100+ pts to 8300
Theres NO doubt in my outlook that we will get under 8235 of last Friday's low
and spx under 880 of last Friday also
SO,
at a MINIMUM , we should get to the numbers posted above at 870 & 8230
And thats NOT very far from dow 8000 & 840
IN ADDITION
VHF is under 5, but IS ACTIVE during trading hours. = a down day
Activity index dropped from 200 b4 open and is now at 100
Flux shows NO activity = a down day
Power index after having been at 600 yesterday drops to 425 tomrrow
Prop index was at 3000 yesterday, and has dropped to 2989
even with the mkt attempting to rally, it never went above 3000 during the last 2 days
Note yesterday's action
10am HIGH
11am on the slide
1pm low
3pm high
You get the picture, right
did yu notice the 2pm SHARP dip on 120bars AND 126 bars at 2;30- amazing
AND of coure the 3pm TURN lower
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Ok , i will lay out next 2 days
Today
150bars @ 10:00 was off 130 @ Dow 8295 & spx 892
now off 140 and its not yet 10;30 @ 156bars
next is
180 bars at 12;30
204bars at 2:30
and of course watch the hourly hits
11am-1pm & 3pm
_____________________________
Friday
228 b @ 10am
258b@ 12;30- could extend to the 30 bar cycle in the next series at 3pm
which is ALSO an hourly turn
S 45* V at 3;44 has a light hearted reading, but nothing after to keep it up
50% of 13 day cycle low due at 2pm would = 276 bars
or might get to 3pm at @ 30 bars in a new cycle = 290bars
And keep in mind, we have seen the 13 day cycle hit an hour early OR an hour late
depending on surrounding circumstances such as natural energy forces.
Even 312 bars at 4pm might be a truncated 329 bar cycle
________________________________
I WILL BE BUYING at 3pm, and or CLOSE tomorrow
I wont lay it out for you but there is NATURAL HIGH ENERGY ALL next week
which should lead to an END OF MONTH high at spx 940 or above
As of June1st Merc goes DIRECT and that is very consistent with market TURNS
its now 10:25am
sorry about yeterday, there was really nothing to do, but wait for the fall
THANKS for all the comments - pos & neg ones
More Later
Jay
JAY,
ReplyDeleteTHANK YOU for your analysis. Please ignore the doubters.
You do a lot of good work which is appreciated.
You will be buying at 3.00pm or 4.00pm (close) tomorrow. You said the turn could happen an hour earlier (at 2.00pm).
Will you be posting on your TWITTER account at 2.00pm to 4.00pm tomorrow? It will help me a lot. Thanks
Thanks for all the hard work. I had a feeling you were waiting for the decline to take effect before posting. Where are the bashers now?
ReplyDeleteKathy
Great work. I am newbe. what does bar mean? Do you mean DJI? what is you spx target for today?
ReplyDeleteSam
bar like in bar-chart,
ReplyDeletecandles in candlestick charts and lines in line charts
Best,
A2
The bulls lost an opportunity. Before 2:00 PM the market had a good chance of finishing up Friday.
ReplyDeleteNot now.
Hit support again, see 2nd chart
ReplyDeletehttp://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1399335
best,
A2
HI jay, and A2 thanks for the reply. but still trying to comprehend what does it mean when you say 184 Bar at 12:30. Does it mean that DJ will be down 184 points at 12:30? Sorry about the silly question.
ReplyDeletegreat work tough. I got out of my shorts here at 881. Looking for better entry.
It is counting bars from a prior CIT (Change In Trend, i.e. high/Low)
ReplyDeletethe bar at 12:30 is 184 bars from an earlier CIT.
12 bar s per hour on a 5 min chart
ReplyDelete78 bars per day
lows occur on a regular schedule
Its comparable to BREATHInG
we see consistent dips EVERY 2 + 1/2 hours
but sometimes its 2 hours and sometimes its 3hours, but mostly 30bars = 2+1/2hrs
60-90-126-156-180-204-228-258
at 258 IT STARTS ALL OVER AGAIN
GOLD
after hours running to 953, BUT
high was on
FEB20 @ 994
March 19 @ 955
April 24 @ 913
NOW its MAY 21/22 and its bumping against 955, the previous lower high other than 994
get the CYCLE = 30 days high to high
NOTE ::the JAYWIZ index for GOLD is a VERY BEARISH 15.
________________________________
What did the Market do today?
126 bars @10;30 = minor dip
180 bars @ 12;30 = minor dip
204bars @ 2;30 = minor dip
none of those bar lows were important
______________________
So what was important ?
good question.
the HOURLY turns were
11am a low
1:05 a high
3pm = LOD @ 8222 dow & spx 880
_________________
Activity index TURNED just prior to 3pm giving a hint of the close
and has now fallen again, but its a long time till open
__________________________
So what can we glean for tomrrow
Power index shows a possible LATE pick up, but we really shouldnt see that after today's later recovery-
Market does prefer to ALTERNATE as Elliotters very well know.
Propens index is not quite complete for tomorrow yet so the outcome is still in question there, but it does show a STEEP decline at open
I will UPDATE in the AM so we will have time to know what to do;
Jaywiz index = 25 TODAY and yesterday was a 31 - both NOT extremly so , but bearish anyway.
Todays ARMS index was only 1.28
there were NO SELL signals, and so far no buy signals from the internals generated from the daily arms index
More later
Jay
Jay, Thank you for the update.
ReplyDeleteA2, Thank you for the link...looks interesting, i like the simplicity of it.
Waterfall