PRELIM data
Prop ind & power index both show Monday to be an off day
most likely to hit a low once more at 3pm, and or close
Its showing a DOWN/UP/ DOWN type day
some call it a RED day high to low
Tuesday shows a possible strong up open, but I dont have enuf data for later yet
BUT midday low possibly around noon
More Later
Jay
Ok Its now later [g} 3:30pm
times for Monday
14.6% fibo segment/13day cycle low at 9:50am
180Bars cycle low at 10:30
204bars at 12;30
228 bars at 2;30
Hourly cycle TURNS are still
11am
1pm
3pm
+- 15 min either way
Since there is an M 180*S @ 3;14, I would venture to guess the LOD at or near that time
more later
Jay
Thanks for the update Jay, hope tuesday doesnt mark a move up for the rest of the week.
ReplyDeleteI was thinking of going short this week until friday.
Is the rest of the week still same as your previous comments?
Waterfall
Waterfall
ReplyDeleteI would NOT recommend staying SHORT till friday
ITS NOT that kind of a week
Jay
follow the bouncing ball
PS
Taking a long position on Friday will reap much better rewards than
shorting this week
remember this from Jesse Livermore
WAITING is the most difficult thing a trader has to learn.
but IMO, can be more rewarding
Jay
Jay
Hi Jay - just recently come across your site - very interesting, will continue to check in. Do you see close EOD Tuesday above current ES number?
ReplyDeleteJay,
ReplyDeleteThank you very much for replying and for your words of wisdom.
Really appreciated!
I will do daily trades instead and follow the 'bouncing ball' this week....(until friday before going long)
Keep up the good work!
Welcome Jacksoo
ReplyDeleteHeres an AM UPDATE
A minor adjustment as the AM appears MODERATE, but we should see the COLLAPSE in stock prices after mid day
I will be adding SHORTS on ANY OPEN RALLY, and or, and rally prior to noon. Afterwhich we should STILL see strong selling today, and it might even last thru the close.
BUT I still have tomrrow [Tuesday] opening higher and staying up.
for the most part, its not a beary day. and if the open is strong as I suspect, it will be difficult to buy into. A late drop from 1pm to 3pm is possible, but the close looks UP
I will update Wed sometime tomrrow
to ascertain if there a viable short trade at the close on Tuesday
ps; I dont think Tuesday will recover all of Monday's losses
AND Wed has the possiblity of making a lower low , but on an intraday basis- not on close;
but more about that later.
Jay
intersting note:
ReplyDeleteIf they get to 890 this AM on the HIGHER futures, then FLASH's 866 level is VERY VIABLE, and would offer a 200 dow pt loss from the TOP to 8150
Jay