INternals just gave a TECHNICAL SELL SIGNAL
You may not know it , but I keep a DAILY LOG of
DOW
SPX
NASDAQ
NDX
XAU
PC ratios
spread sheet with daily ARMS index back 5 + years
IT JUST ISSUED A TECHNICAL SELL SIGNAL
ON 10/1
5 day ARMS was @ 160
5day TRIN was@ 802
10 trin was @ 1538
on 10/16
5day arms = 79.4 -- under 100 is a sell
5 day trin = 397 -- under 400 is a sell
10 trin = 841 -- under 1000 is a SELL
THE KEY number is the 10 day which just dropped out of bed today
Tomrrow @ 10am
Will most likely see the dow at 10089
and spx at 1098
Jay
30 comments:
BUY THE DIP!
stan
Picked this up from Mikes site that I review.
http://marketsci.wordpress.com/2009/07/03/revisiting-the-day-after-options-expiration/
www.mikevadon.blogspot.com
Hi Jon, read your comment and your right, I should not have spoken that way to dd, bb and X Anonymous folks. No excuses, just tired of having folks bash Jay when he has helped out folks such as me!! Growing up I had a thing of sticking up for people, I think it was where I grew up, my faith. Anyhow, I will let Jay do his own defence, he doesnt need my help.
Im still long, I think folks will buy the dips but what Jay just posted has concerned me that maybe I am a tad to long??
Thanks
Joseph
Everything is still Bullish despite the small correction today. More panic mania by the short wannabees again.
carl
So now when we finally go down after you've been bearish for weeks, you turn bullish? interesting
10:00am has passed so how's where's 1098? Jay are you a buyer now?
This guy called the peak 2-3mths ago, one of the reasons I went Long aside from a few others. But his top was called not only by the # hit on the SnP/DOW but time as well. Now Im really confussed....
His name is MR TOPSTEP, chk the video out on Slopers..
joseph
slopers? topstep?
do u have a link?
thanks
diane
diane,
http://slopeofhope.com/2009/10/sea-change.html
10am did NOT offer a new high
however, it did offer a rebound off the open low
and 11am was a low at 150bars
39 hr cycle shows a match with Jupiter at 1pm for possible HOD
Jay
yes IM A BUYER NOW
MORE SHORTS
Jay
Jay, I assume you meant you are buyer of more shorts?
Or now you are long but will go short after the bounce?
just SHORT
SAM
POWER INDEX for NEXT Week in addition to 39hr cycle & 8day cycle SHOWS an initial LOW on the 20th at 11am
I have the timing posted on the main page thru NOV 2nd.
GAME PLAN
I will be BUYING limited calls on the 20th to be closed on 22nd by mid day at the latest.
&
I will be re entering shorts at that time
Jay
Diane,
use the LINK to RED Dragon
from my MAIN page.
He has numerous EXCELLENT other links also
slope of hope is there, but I also linked it from here
Jay
STAn;
Please refer to some of the LINKS on
my main page and also links from Red Dragon
THE UPSIDE WEDGE is BUSTED
the BROADENING TOP is clearly shown
see COBRA and other charts
Jay
thanks arak, Jay,
diane
Jay,FYI
Gann used to draw his trendlines in the following manner.
1 pt per day ( a 1X1)
2 pts " (a 2X1)
3 pts " (3X1)
4 pts " 4X1
8 pts " 8X1
16 pts " 16X1 so now 1100 is important because
we are 10 days from the oct 2 low of 1020. 1020 + 80 is (8X1)=
1100 and the 4X1 is at 1060 the next important level.
Try these trendlines on your SPX charts. So if this is a short term low today and the 19th-20th is going to be the high,
Monday is 11 days from the oct 2 low and the 8X1 is at 1108 !!
8X11 = 88 + 1020 = 1108
Also Helio Earth coverted longitude on moday is 1107
GS
Gs,
Gann had so MANY lines, that the market almost always stopped at ONE
of them. But you never knew which one
until After the fact. Just like EW.
It's great.....after the fact.
this is probably more boring now than the never ending march to the 2007 highs.trend traders are laughing there socks off,while everybody else is jumpin out of short trades for 2 points or getting another ass whoopin.day after day the bull will not die.went short earlier today and had over 7pts in it but back to breakeven now arrrrrrgggghh! shouldnt trade like that really but when she does go shes goin big time.thats the greed factor for you lol.
Tony,
the ones that really work are the ones that square Price AND Time.
GS
Hi, well said after8. Theres to much whipsaw going on and to try to beat the tape you need to be a really good trader, damn good. Folks need to realize that there going against large firms with heavy duty research, Tools and experience. I believe swing trading or longer term plays within cycles of 1-3mths is a safer play. Unless your prepared to risk heavy capital and alot of time......
Anyhow, as I said Im still long until I see a real reversal with volume from certain sectors. Will need to break 1075 or so to start the decline or SPY back to 103
I guess will see Monday/Tue
Put some money into property, start off with 3-6 unit dwellings....
Thanks
Joseph
GS,
Can you point out a current one to trade on???
i take my hat off to those people who can stay long rigidly following there system right to the death point and watch the market take back at least 10 percent of the profits in the proceeds ha ha,this is the one of those trades per year you have to be in to make it pay.i tried trend following a la turtles style when i first started out and i got absolutely killed! you have to have big big accounts to crack that nut and be prepared to clock up way more losses than wins.it wasnt for me but none the less there are those more patient than me who can really play a tune with it.good luck joseph.
Tony,
Use the 8X1 from the 1020 low.
Look at it on the daily and the 60 minute chart. 8 Pts per day
GS
Tony,
Also draw the 1X1 down from the 1080 high on your daily and 60 minute. The angle on 10-13 was at 1066 LOD
IRA trade: I'll be selling my inverse ETF today, Monday being too much of a risk, and the need for early week settlement for buying long. It's an up week.
I've likely missed the low of the day, 10:56, so I'll wait and see what 15:48 brings.
in short again at 1090.8.holding over the weekend.
Monday gap down
Atilla
HUGE GAP-UP on MONDAY!!!
100% Guaranteed!!!
""
This week is important from a lunar cycle standpoint. First of all, this Saturday (October 17) will witness a new moon in Libra, which oftentimes does correspond to a high prior to a substantial decline. Yet on Tuesday, Mercury will form a trine to Jupiter, followed by the Moon in Sagittarius on Wednesday and Thursday. When markets are rising, these factors can also correspond to a peak, for Jupiter and Sagittarius represent the principle of optimism, particularly with Venus in Libra.
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