In 1987 , October 5th & 6th was the START of something BIGBUT this year is NOT 1987 and those looking for the SAME will be disappointed
HOWEVER, IM expecting an OCTOBER 13th similar to Spt 23rd and the fall after
a mid day high on the 13th into Oct19th might emulate 1987 to some degree.
Flash has posted SEVERAL times expecting a MID MONTH smash
Jaywiz says BEWARE the IDES of October
in other words - DONT BE BULLISH after Oct13th at 2:32pm
more later
Jay
34 comments:
Terry Laundry's also saying eally to mid--October.
Update for Sunday October 4 2009 Expect Low early next week (Monday) intraday at S&P 500 cash 1008 then rally to mid October high sell point. See long discussion in three audio parts with two PDF Charts
mark
Thanks Mark
Im chomping at the bit to buy calls, but WAITING is the NAME of the GAME today
Ive posted my projections for this week several times.
There is a CONVERGENCE of short term cycles at 11am today.
Any rally failure after 10am should set the LOWS at 1010-1015 area
IF that DOES occur,
IT would COMPLETE the wave COUNT and setup the ABC rebound I have mentioned several times ALSO
Jay
Current Price action makes sense today. Over the weekend the majority blogosphere consensus was that a lower low was coming Monday morning.
Well we know what happens when everybody is is on the same side of the trade.
xx
1019 low of Friday @ 9:45 Am
1029.85 = wave {a}@ 10;45
1024.31 = wave [b]@ 3:45
1035.01 at =wave[c]-iv @10am
October 5th
Now lets look for wave v
if not at 11am today,
Possibly @258bars at 1;30
OR
30bars @ 4pm or open Tuesday.
OR wherever the SPX drops to 1015 ~~ 1010 area
Jay
Thanks Jay. waiting for Oct. 13. do you have EW high projection around Oct 12-13? are we lloking for new high by then?
Cal, Vic, ahere do you stand here? Shorting here around 1040?
thanks guys
Waiting to short under 41.12.
I will post when I do. Flat right
now
Hi Sam.
On Fri. I said:
"This has classic V-shaped reversal written all over it."
"I like what I'm seeing so far in terms of the rally. "
I was busy this morning trading but didn't post here...Sorry.
Therefore I shan't discuss it.
I still like what I see and that 1040 could easily get taken out . This thrust is coming from 2 larger bottomed cycles and we'll have to see if they translate down early or continue up which I favor.
Good trading
Thanks Vic and cal
Still waiting for that low....
The fact that today didn't selloff any further tells me that this will be a multi day rally back to 1050 minimum frustrating the late to the party bears. I'm loading up here.
x
This is the start of another rally leg to break Dow 10,000. We are not going to see another low...wake up! Buy dips is back. 1040 is a given.
Victor,
RIMM & AMZN, seems like wants to break down
Everyone is still expecting a drop like jay. So guess what...we're rallying tomorrow too.
Grodnyc
IM waiting ALSO
late sell off today and ALL day TOMRROW should take the wind out of the bull sails, and allow the MKT to rally without the majority
Lower low?/ maybe, maybe not
1020 to 1010 is still the range
3;15 today might end the runup.
Activity index has been ebbing lower today from 200 very early to 66 until 2:30pm, and now at 100
at 3pm.
1080-1020 = 60
38% = 23 = 1043
62% = 37 = 1057
We are right at 1042.57 at 3pm
Jay
According to the Elliott labeling this rally has NOT been impulsive
which says its a correction AGAINST the down trend
pivots today were
jaywiz cycle 10:43 am early at 10;15
258 bars at 1;30 on time
Joe8888 posted his thoughts, may be ure right correction for the down move
http://www.screencast.com/users/chartwiz/folders/Jing/media/9532c76d-53ec-4356-8bb5-f6cd0f3ad0b7
jay
This rally is without the bulls. who you kidding man?
it left you and every other bear out there behind as usual. what's new?
better buy a dip cause that's all youre gona git.
tlc
reddragonleo is still waitin for a 5th wave too.
tlc
ANons
You are about to get SLAMMED tomrrow
Jay
Please dont send me SNIPPETS without substance
Goodnight Gracie
Did you see how much buying there was today? Internals are very strong, like back in Sept.4th. There was no selling. Soon there will be panic covering and more buying. We will probably rally again tomorrow.
ty
Still flat and waiting.
Lows have been seen for this leg.
1084 to (1108Maybe) by thursday
Gannsecret
Gannsecret,
You are long from what level???
changed my mind and bot short near close
Got a better focus NOW
Down on 6th = 5th wave for {1}
Out of the gate with a BANG on the 7th - GO BULLS GO 1050 +
HIGH on 9th at OPEN @ 1063
9th PLANS CHANGE after OPEN & Bulls get slammed again
Power index NOW clear
300 was on friday
350-400 today
200 tomrrow
450 wed
400 Thurs
600 Friday AM & 400 at close
Jay
will wait for 1030 or lower to go short, 1006 to go long, or 1084 --1120 to go short.
Volume, volume, volume...
That's all that matters ladies and gentlemen. Light volume equals an up market. Heavy volume equals a down market.
Today (Monday) the volume was only 150 million shares on the spy. Last week volume was 254 million Thursday and 266 on Friday. We are in October and traders are back into the market. They won't go on vacation again until late November. You can expect the market to continue down until then, with a few bounces along the way.
The bulls had their chance in September to take out the 1080 high and go close that gap at 1108. They failed! Since volume is now back in the market, I see little chance of them being able to manipulate the market higher to close that gap.
If the bulls can't push the market higher will big volume, then we are heading down. Once volume is light again (November) the market can rally higher.
Will it reach that 1108 mark? I don't know, but I doubt it. They won't have enough time to do it before volume returns in January.
The tide shifting. I wouldn't go long unless you are a day trader. Volume should now increase every day until Friday (and continue throughout October).
Red
Hmmm...I wouldn't go long? I went long on Friday's close...so obvious! We had 4 down days in a row and was super stretched to the downside. Of course we were going to bounce today. If you missed today's bounce, you need some serious help trading. Now, if they push it higher tomorrow, you're going to see massive short covering to fuel another rally to dow 10,000.
Terry Laundry Update Oct. 5::
Oct 5 after close note: The mid Oct peak(D) is being estimated as Oct 12, 13, or 14th. It is positive that the Arms selling climax and Wrong Ts bottom date has halted the slide to the 55 Day MA. Should be headed up from here.
xx
This feels like a low volume rally til the end of this week. Downtrend will probably resume after later shorters finally cover by Friday. Sellers were completely absent today. The sentiment is too bearish for us to drop further. It reminds me of Sept.4th and we all know what happened from there.
x
x
why don't you trade the talk instead of just talking. You're not credible. Just a whiner.
boo
Jay said//
changed my mind and bot short near close
Got a better focus NOW
------------------------
??????
tlc
With the gap up in futures, the five wave straight forward impulse count from 1080 is out,, since we exceed wave (i)
FIRST ALTERNATIVE: Morphing into an expanding ending diagonal which will imply move to 1054 area for its fourth wave followed by a drop below 1020 to complete expanding diagonal 1 of P3, to be followed by a deep a,b, c correction up for 2.
ALTERNATIVE TWO: Still in P2, doing another zig zag to above 1080. Now in (a) of the zigzag to be followed by (b) and then (c) up above 1080.
Thanks Ravi
The Futures make the OPEn looks LIKe 1050
I will be adding shorts from there
FOR tODay only
Your first ALTERnative looks right according to my power index
DROPS to 200 today
Starts out tomrrow at 450, so expect a strong open on the 7th
with a mid day high and drop off after mid day
8th starts off down, but improves during the day
HIGHLIGHT OF THE WEEK
9th at open reaches for the sky= for whatever high Level that may be, but then sells off dramatically as the power index drops from 600 at the start to 300 at the end of the day
Jay
WOW!!!!!!!!!!!!!!!!!!!!!!!!!!
rally time
xx
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