Thursday, July 30, 2009

NO Support


Sorry CNBC- Last hour not the same as earlier this week

OBV tanking

MACD tanking

Ult Osc = ditto

Activity index tanked about 2pm, and is now at 100 for about 30 minutes

It would appear that wave v was at the 11am HOURLY high & turn

Jay



7 comments:

  1. SPY closed below opening price. Jay should

    Ravi

    ReplyDelete
  2. ...get his big down tomorrow.

    Ravi

    ReplyDelete
  3. A is done
    (i) 869.32 887.86 18.54
    (ii) 887.86 872.81 -15.05 -81.2%
    (iii) 872.81 979.42 106.61
    (iv) 979.42 968.65 -10.77 -10.1%
    (v) 968.65 996.68 28.03 1.51 of (i)

    A 869.32 996.68 127.36
    Retrace target for B
    21.4% 969.42 27.26
    38.2% 948.03 48.65
    50.0% 933.00 63.68
    61.8% 917.97 78.71
    78.6% 896.58 100.10

    Prior Top 31.8% 956.23 40.45
    Prior Closing Top 39.6% 946.21 50.47
    (iv) bottom 22.0% 968.65 28.03

    ReplyDelete
  4. Ravi
    THANKS

    950 area is MIDDLE range and has a good shot at finding support

    Merc 150 Uranus at 2pm is close to 120bars at 2:30, and could provide a low at that point, but I think the close will be lower.

    Jay

    ReplyDelete
  5. Let us see, what was the largest drop since March bottom. That was April 20. That was a buy.

    Prior close= 869.86
    LoD and close= 832.39
    drop= 37.47 OR -4.31%

    just for fun, what would similar drop mean tomorrow

    today's close = 986.75
    down say 37.47, that is 849.28
    down say 4.31%, that is 848.55, darn close to 38.2% retrace at 948.03.

    Possible? yes.
    Probable? not much, it is difficult to believe that B will last only 12 hours or so starting from Hod today.

    Let us see,
    Ravi

    ReplyDelete
  6. Jay/ Ravi

    The way the market blew the roof today, the market should be down for at least a week. Are you still going to go long at end of day tomorrow. SPX & QQQQ and other indexes had the island reversal today

    ReplyDelete
  7. 12 hours for wave "B"
    your right, it doesnt seem likely, BUT
    Who would believe that wave v would be only 1+1/2 hrs, but it actually started the day b4.

    & From 11am, it looks like wave 1 and 2 finshed, and wave 1 & 2 of 3 started

    YES, I still see Monday as a strong day, UNLESS Tomrrow is a shallow sell off, and doesnt plunge as I have been projecting all week.

    Astro provides the road MAP for which the MKT MUST follow
    AND
    There is much more than just astro working tomrrow as I have posted MANY TIMES
    I guess you will all have to see it in action [ONE MORE TIME],b4 understanding its effects.

    ReplyDelete