Ibo's chart and CIY dates are in agreement with me
11;16 this morning " SHOULD " provide a turn -- moon 120 pluto
theres no other support left after that
Day closes on Merc 150 Neptune = confusion
Power index shows drop today, not yet started
propens index decline has NOT been seen yet--appears DELAYED ??
Activity index is NOW at 133, and has DROPPED from 300 prior to open.
It would seem all is in place for a CHANGE in trend as per Ibo's chart as well
TODAY and 11;16 seems most likely for that CIT
Yes Ravi I can see most likely 960 at or on Friday's CLOSE
But I cant see 40 pts lost just tomrrow alone
On ibo's chart we can see
1018 high then an a-b-c to 980 low = wave "A"
NOW IN WAVE "B: retracement to 1006
Next would be wave "C" which would also break down into 3 waves a-b-c
as ASTRO has described previously
That means TODAY drops to a LOW on FRIDAY - 960 or as low as 940 = 'a'
Monday as described gets a SUPER booster = 'b'
25th to26th and possibly the open for 27th = wave "c"
end of correction pattern and we then see a run up back to 1000 by Spt 3rd or 4th
IMO, the correction we started on Aug 7th at 1018 WILL NOT END until LATE Spt
23rd to 25th, but I will get more precise on that later.
Coy
that cycle convergence at 2pm might also be the acceleration of a TURN LOWER ??
Today ends with CONFUSION
AND
friday's astro starts with a SEVERE SURPRISE
more later
Jay
28 comments:
Jay:
As I posted earlier today, today's hi can be top of a c of an (c)=a,b, c from 978.51 Monday.
If so,a likely target will be around 966:
(a) of B 1018.00 978.51 -39.49
a 1018.00 992.40 -25.60
b 992.40 1013.14 20.74
c 1013.14 978.51 -34.63
(b) of B 978.51 1006.03 27.52 70%
(c) of B ??? 1006.03 966.54 -39.49 (c)=(a)
But for that, we can not have a higher hi that changes (b) of B into a five wave impulse, making it very likely that 978.51 was B bottom on a single zig zag.
In any case, I have no timing for completion of (c), but it could be comparable to 6 days that (a)took.
That can stretch to NEXT Friday. Your call for 860 tomorrow is only possible if we are entering a wave iii of (iii) down. There is no way to count that once we exceeded 1004.17.
From a blog: ( paid services):
http://www.stocktiming.com/index.htm
On the short term, we are still coming under duress and showing increased weakness on more indicators. Since August 7th, we have been saying in our Summary: "* We could see intra-day softness in the next few days." The reason for saying that, was what was happening to our Leadership Ratio in Section 4, Chart 2. (The last two times the mentioned support was broken the NYA faced market softness and moved sideways or down for a few days (14 days of softness on the longest case). This third case has been the same, and the downside softness continued yesterday but notice the counter trend on the C-RSI since Monday. This could be enough to start halting the downside movement today ... we shall see.
2. Multi-Indicator Model Conclusion: Conditions are a "Down/Neutral" which is a "Market Down" condition with a negative divergence playing out from the NYSE Declining Volume.
3. STILL on the watch: Two weeks ago, we mentioned how the NASDAQ 100 was very close to Major resistance levels. There are still two resistance levels just ahead of us now on the NASDAQ 100. We are talking about a 10 year and 2 year resistance line here, so this is a very big event.
For the NASDAQ 100 to break above and trend above those levels would depict a fundamental shift in the 10 year down trend and the beginning of a new, powerful Bull market. Or ... a failure at resistance point 5 would be the start of another leg down in a Bear market.
From one perspective, you would think it should fail and go down as consumers are still in too much debt, not spending, and can't tap their home equity for more to spend. Corporate sales are still falling, but not as fast.
On the other hand, a recent study suggested that "the world's consumer confidence was rising", while the U.S. consumer confidence was falling. Is the U.S. somehow lagging a worldwide change that is positive ... and, are we going to join the world for a new Bull ride? Who's the dog and who's the tail? Will the tail wag the dog, or the dog wag the tail? I don't have the answer, but we do know that this 10 year NASDAQ chart is saying that we are very close to an important clue to the answer.
Currently: We finally got a reaction on testing the 10 year resistance on Monday with a gap down drop. That shows you how formidable and important this 10 year resistance level is. In spite of the drop, the NASDAQ 100 still has a positive C-RSI above 5 which could give it the possibility to retest the 10 year resistance line.
Mike
Mike,
So how do you trade this info??
Mike:
Thanks for that post. Yes NDX kissed the line joining March 2000 top and Oct 2007 top on the ARITHMETIC chart that some people follow even for long term chart. I prefer SEMILOG charts with scale of equal % move on price axis. Works better.
The rest I do not understand, and therefore can not use.
Ravi,
Max pain for SPY is 98.
So SPX is 980. QQQQ is 38
Thanks victor. We are then likely to move towards 980 tomorrow. I do not see 960. More concerned about seeing a clear minor five down from 1006.08 first.
It looks like we a LOW late today or early Fri. morning and then another rally for at least a day.
Tim
Ravi
Agreed, 960 is unlikely.
Victor, ravi, this information is more suited for swing trade or rather IT trend. The service has been bearish and missed the march up move. It is very ambivalent and has hard time accept the up move. But it very methodical and disciplined. it went short and pulled the plug since the TA did not fit.
JUST FYI. People are confused.
Mike
Thanks Mike.
Mike,
Confusion is a product of the merc 150 neptune at 5pm today
Ravi
Astro tells me to look for a DOUBLE ZIG ZAG
Today of which is the X wave thus expect another abc into Aug26th/27th
Sorry ,I dont see today as WAVE i
My conjecture was for a low at 960 to clarify just in case anyone read that wrong as it was printed as 860.
960 = a 40 pt + loss from today's high & dow loss of about 300 pts
Mondays gain could recover all of it
Jay
Well guys I think it's self-evident why the market dived so hard on Monday.
OPEX week!
They truncated the decline by achieving set price target all for OPEX.
Real nice.
jj
Jay:
I read it as 960, not 860. I do not see us dropping 45 points by tomorrow, an expiration date with max pain at 980.
I agree Ravi,
960 by tomorrow is a loooong
shot. Sorry Jay. If we get there
You are the MAN. But what I follow
says no way. Just sayin
FROM FLASH:
8/28/09, a MKT monster turn ? ready RT @DougKass I am hearing Paulson has taken as much as a $3 bilion long position on the US Dollar
24 minutes ago from web
MKT 4.3 month cycle turn on or about 8/28/09; I am lining up hits here for the turn; could be as good as 3/6/09 ; we nailed that one !
19 minutes ago from web
dOES HE MEAN GO UP AS IT DID ON 3/6/09 OR GO DOWN AS MUCH AS IT DID GO UP ON 3/6/09.
i WOULD ASSUME HE MEANS UP. WE WOULD KNOW BY THEN.
SAM
Jay, Coy and Ravi
Any readings update. Its getting boring repeating over and over again. Look at C, AIG they are up, who would buy those companies
Sam,
Dollar rally would mean market decline.
Sam
I agree with Victor. Flash is talking a big dive coming soon. We're all in agreement here.
I follow TSX. It's already Kaput. Weekly SloSto(5,3) confirmed down into next major cycle. Any illusions are in the bull camp now. Don't get cute at the top.
Candi
NOW IT IS CLEAR. FROM DOUG KASS TWITTER. IT IS BIG DOWN DAY. PAULSON IS LONG ON DOLLAR THAT IS BEARISH FOR MARKET. NOW THAT RUMOR IS OUT IT MAY HAPPEN SOONER. OR MUCH LATER. ONE MORE SUCKER RALLY AND THEN DROP.
http://twitter.com/DougKass
i am hearing pualson has taken as much as a $3 bilion long position on the US Dollar
SEE HIS INTERVIEW ON CNBC. lIKE JAY SYA IT IS TIME TO BE CONFUSED. HE IS BOTH BULLISH AND BEARISH. BUT HE WOULD RATHER LOSE THE OPPORTUNITY IN RALLY.
SAM
I would wait for the decline to begin. Could be just a rumor.
I'm waiting for confirmation.
Jay,
My stuff ain't working.
Coy
rotflmao
steve10
Jay,
Would you please give me the specific astro for confusion?
Much appreciated.
Coy
they're gonna keep this propped up here for the expiry by the looks of it.
COY,
Merc 150 Neptune
It just might be supporting the mkt
BUt tomrorow @ 7:47AM
Merc 180 uranus
disrupts communications
offers a very nasty open
2pm did provide a minor turn lower, but it may not be enuf to sell off
2:30 was 180 bar cycle low
Jay
Still short %25 from 39.85 QQQQ and
holding. Waiting for next signal.
Jay,
Mercury (communications) is approaching 180 with Uranus. Exact 7:40 AM Friday morning. Sooner the better.
You may have mentioned it. I can post faster than going back into the blog.
Coy
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