I think I see an ASCENDING triangle (Rising lower line- FLAT upper line)AT 1042-1044 in a 4th wave position THUS the 5th wave will PLUNGE the largest distance of the previous decline = 30 spx pts from 1050 to 1029
all im seeing of any relevance today is a completed wedge we've broke out of on the 30min.possible backtest around 1039,watch for reaction thereabouts.if we dont test 1039,we goin straight back up to 1052
Looks like a 5 -3 -5 from 1029 to 1045 amazing 2:10pm LOW yesterday 2;10pm High today You know aobut 39 hours how about 390 minutes 6.5 hours x 60 = 390 90 bars hit @ 1;55
Could be a DOUBLE zigzag with in intervening 3 now lower back to 1035ish.
Then higher tomrrow OFF on Thsday High Friday mid day @ 1070?
last hours of trading during volatile seasons can be quite hairy rrman,better to be safe than sorry if your not totally convinced of direction,and even then... fomc tomorrow? range tightening up for another stonker of a move no doubt.
TLC VERY POSSIBLE up open, sellback to 10;30, and EXPLOSIVe after FED.
Will be OUT of office tomrrow till 11am
Its looking like 1029 was the LOW this week
That means NEXT week Could set a lower low, and the LOW of the month on the 13th. Some are expecting the 12th low but Bradley is 10th with JUPITER 90 SUn
Broke thru the LINE and DROPPED right after
DAMN
ReplyDeletethey HIT the LOW at 60 bars at 11:30
Next one is at 2pm, then 3;30
Jay
great call Jay wish i had pulled a bit earlier but i'm happy we'll see how we do long into 2pm
ReplyDeleteJay
ReplyDeleteAre you expecting a low at 2 pm and 3:30 pm?
high at 2pm anon low 330
ReplyDeletesorry anon 1pm high 2pm low my bad
ReplyDeletethanks rrman
ReplyDeleteYou really do need to get more sleep
GGG
Jay
rrman needs to get off the meds
ReplyDeletelol
ptg
oh come on you guys know you love me....
ReplyDeleteYou'll be redrawing that chart soon jay. This action is bullish. If we were going to selloff, it would've happened already on the break.
ReplyDeleteas Ronald Reagan would say ....."welllllll..."
ReplyDeletedo we bounce off the channel again i say yes!!
ReplyDeletewent short at 1041 surely they won't let me ride this bus the 3rd time since midnight
ReplyDeleteFully long now.
ReplyDeleteptg
this down wave might get serious it has a lot of time over an hour to go....
ReplyDeleteIf you wait too long, you may miss out on the next rally.
ReplyDeleteptg
i wanna catch it but my ticket says get on the bus below the 1030 milepost ;-)
ReplyDeleterrman
ReplyDelete2pm might NOT be the LOD
Look again at Danerics chart page
I think I see an ASCENDING triangle
(Rising lower line- FLAT upper line)AT 1042-1044
in a 4th wave position
THUS the 5th wave will PLUNGE the largest distance of the previous decline = 30 spx pts from 1050 to 1029
which SHOULD be 1044- 30 = 1014
Jay
And it will COME ALL AT ONCE
Best thing you ever did Jay was tell me to target your times instead of my targets it is working perfectly
ReplyDeleteif we break the top of the channel around 1041/2 i guess you'll be right and need to get out of short
ReplyDeleteof course the trading God's could smile and we go down to 1029 bounce of the bottom of the channel go back up to 1044 then back down at 330.....
ReplyDelete--->stands bye the 1029 milepost waiting on the bus...
ReplyDeleteall im seeing of any relevance today is a completed wedge we've broke out of on the 30min.possible backtest around 1039,watch for reaction thereabouts.if we dont test 1039,we goin straight back up to 1052
ReplyDeleteI'm thinking along the same lines as you after8.
ReplyDelete39 hissed at it and scared it back down
ReplyDeleteI think we creep up to 1052-1054 before down to 1020. ES is hugging the 15 ema and ceeping up
ReplyDeletewent long 1039.50
ReplyDeletelooks like 5 waves from the 11;30 low??
ReplyDeleteJay
out longs short at 1042.25
ReplyDeletesold fas in ira 69.94
ReplyDeleteDidn't antone read the commentary 2 posts ago.
ReplyDeleteI'll I've been hearing today is CA-CHING!!!!!!!!!!
tlc
sold 1044.1,looking for a low somewhere around the 3.30 mentioned.fairly tight stop in case.lack of oomph with this rally.
ReplyDeleteLooks like a 5 -3 -5
ReplyDeletefrom 1029 to 1045
amazing
2:10pm LOW yesterday
2;10pm High today
You know aobut 39 hours
how about 390 minutes
6.5 hours x 60 = 390
90 bars hit @ 1;55
Could be a DOUBLE zigzag with in intervening 3 now lower back to 1035ish.
Then higher tomrrow
OFF on Thsday
High Friday mid day @ 1070?
Jay
glad you guys can recognize a turn when you see it.
ReplyDeleteobv on the rally was poor
3;30 is 108 bars but it could go all the way or at least to 3;45
which it does often
Jay
thanks Jay sounds good
ReplyDeleteThanks jay. good call.
ReplyDeleterrman , jay any target for the low here? or go with the time
IF it CLOSE on the LOD, then TOMRROW AM could drop to make 1020
ReplyDeleteBUT tomrrow calls for RECOVERY
& Turn for the better
propens index does show possible lower open and power index has small possible also
Some of you are better with price levels than I
Jay
1034 might be a bounce point here is asomov's trading range for this afternoon
ReplyDeletehttp://tickerforum.org/cgi-ticker/akcs-www?getimagenr=50306
ill hold into the close since Jay sees weakness on his indicators for the morning but i trade futures so i can adjust all night long
ReplyDeletebailing ship early here at 1041.now that volatility is back hour long gains can vanish in seconds.
ReplyDeleteJay how many bars do you show between 330 and close?
ReplyDeleteWould be VERy interesting to break 1029 or less at the close and touching 1020 at open
ReplyDeleteJay
not a bad idea after8 it may be tricky thanks for your observations
ReplyDeleteno kidding Jay and the futes would be so messed up all night on direction
ReplyDelete120bars at 10am tomrrow
ReplyDeleteis NEXT significant pivot
and it could truncate to
9:45-9:50am
108 at 3;30 is NOT a usual pivot
so the close could possibly be the LOD today
Jay
258bars hit at 1pm Yestrday
ReplyDeletethus restarting the next 258 bar cycle completing at 3pm on Thsday
BUt in between
we look for pivots
at 60-90-180-204-& 228
12 bars per hour
78 per day
Jay
last hours of trading during volatile seasons can be quite hairy rrman,better to be safe than sorry if your not totally convinced of direction,and even then... fomc tomorrow? range tightening up for another stonker of a move no doubt.
ReplyDeleteJay, I assume you are reffering ti SPX cash numbers and not ES?
ReplyDeletespx CASh unless I specify otherwise
ReplyDeleteJay
GAP-UP tomorrow, then quick consolidation/correction, then resume upward trend into FED.
ReplyDeletetlc
went long they are selling the dollar
ReplyDeleteTLC
ReplyDeleteVERY POSSIBLE up open, sellback to 10;30, and EXPLOSIVe after FED.
Will be OUT of office tomrrow till 11am
Its looking like 1029 was the LOW this week
That means NEXT week Could set a lower low, and the LOW of the month on the 13th.
Some are expecting the 12th low
but Bradley is 10th with JUPITER 90 SUn
IM OUT- now in cash
Jay