Thursday, June 11, 2009

Chart of Interest

FRED says TOP is IN or NEAR

Matches MY assessment

Jay

5 comments:

  1. Anonymous7:44 PM

    FYI
    you have another freind --the famous bull

    Doug Kass (comment from BUll)

    Memo to Jim "El Capitan" Cramer:
    Unless I am misinterpreting your comments, Jimmy -- you cant have it both ways.
    You can't admire a strong close but disregard a weak one -- from my perch!
    Again, I see the makings for an important top at these levels.
    Away from my fundamental view of a vulnerable consumer (and the specter of higher interest rates, a surge in energy prices and rising tax rates which argue in favor of a 2010 double dip), it remains my view that the U.S. stock market is ahead of the real economy and that the recent ramp has discounted the short-term production boom I discuss in today's opener. Technically, the foundation of the Nasdaq -- that you admire -- are increasingly unsound, and the index appears to be rolling over.
    Finally, the leadership and breadth are narrowing.
    Position: None

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  2. Indexes are showing possible rally during the day, but IMO< just another SHORTING OPP

    Its impossible to say why it happens, but on rare occasion the 258cycle becomes a pivot for further declines,
    as it did at 3pm yesterday.
    maybe because the cycle shifts to 329bars which would take a low today to 2:30

    OR maybe the influence of the 3pm hourly TURN cycle

    whichever it is doesnt really matter, except to realize an important turn has occurred.

    Once the mkts open lower today as the futures seem to say, we can then probably see a rebound to a midday day high, but Personally <
    I DOUBT we will see any higher highs than yesterday

    the PROPENS index shows TODAY"S close in COLLAPSE

    90bars hits at close and OR open Monday indicating a severe sell off possible at both points.

    As the Captain said
    MAKE IT SO

    Jay

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  3. Anonymous8:22 AM

    Jay,
    Good to read your comments.THANKS.

    Just a quick question plse, You wrote Power Index for today 300-500-400..assuming this is still same?

    Also, NEXT WEEK nothing changed? Still looking at SELL OFF LOW on 17th and BUY on 18th running to EOM?

    Apprecite your work as always!
    Pete

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  4. CNBC commentators
    some have been on the show for 20 years- AND THEY STILL HAVEN'T learned a THING about the markets.

    they want KNOW WHY
    &
    just like I wrote yesterday
    People want to know
    WHY

    Theya are there to give them the OBVIOUS ANSWERS

    DOLLAR IS UP
    that means
    OIL off 1.70 hooray & GOLD now breaking DOWN to 936
    but why stocks-
    they dont know
    Maybe today's IRAN elections will maintain the status quo, and thats the reasons why stocks are falling?? BAAAH humbug but it sounds good.

    Jay

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  5. Anonymous12:56 PM

    Jay any comments for later today afternoon?

    What is your final index reading for Monday please.

    Thank you and be blessed.
    pk

    ReplyDelete