Tuesday, November 03, 2009

Break DOWN

Broke thru the LINE and DROPPED right after

NOW near noon and made lower lows at 11;30

NOT sure to hold or not-

My indication is to hold till EOD , but I have more tolerance

Jay

51 comments:

  1. DAMN
    they HIT the LOW at 60 bars at 11:30

    Next one is at 2pm, then 3;30

    Jay

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  2. great call Jay wish i had pulled a bit earlier but i'm happy we'll see how we do long into 2pm

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  3. Anonymous12:03 PM

    Jay
    Are you expecting a low at 2 pm and 3:30 pm?

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  4. high at 2pm anon low 330

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  5. sorry anon 1pm high 2pm low my bad

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  6. thanks rrman
    You really do need to get more sleep
    GGG
    Jay

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  7. Anonymous12:26 PM

    rrman needs to get off the meds

    lol

    ptg

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  8. oh come on you guys know you love me....

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  9. Anonymous12:35 PM

    You'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.

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  10. as Ronald Reagan would say ....."welllllll..."

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  11. do we bounce off the channel again i say yes!!

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  12. went short at 1041 surely they won't let me ride this bus the 3rd time since midnight

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  13. Anonymous12:39 PM

    Fully long now.



    ptg

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  14. this down wave might get serious it has a lot of time over an hour to go....

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  15. Anonymous12:53 PM

    If you wait too long, you may miss out on the next rally.


    ptg

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  16. i wanna catch it but my ticket says get on the bus below the 1030 milepost ;-)

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  17. rrman
    2pm 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

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  18. Best thing you ever did Jay was tell me to target your times instead of my targets it is working perfectly

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  19. if we break the top of the channel around 1041/2 i guess you'll be right and need to get out of short

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  20. of 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.....

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  21. --->stands bye the 1029 milepost waiting on the bus...

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  22. Anonymous1:30 PM

    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

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  23. I'm thinking along the same lines as you after8.

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  24. 39 hissed at it and scared it back down

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  25. I think we creep up to 1052-1054 before down to 1020. ES is hugging the 15 ema and ceeping up

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  26. went long 1039.50

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  27. looks like 5 waves from the 11;30 low??
    Jay

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  28. out longs short at 1042.25

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  29. sold fas in ira 69.94

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  30. Anonymous2:16 PM

    Didn't antone read the commentary 2 posts ago.

    I'll I've been hearing today is CA-CHING!!!!!!!!!!

    tlc

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  31. Anonymous2:25 PM

    sold 1044.1,looking for a low somewhere around the 3.30 mentioned.fairly tight stop in case.lack of oomph with this rally.

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  32. 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?

    Jay

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  33. glad you guys can recognize a turn when you see it.

    obv 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

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  34. thanks Jay sounds good

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  35. Thanks jay. good call.

    rrman , jay any target for the low here? or go with the time

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  36. IF it CLOSE on the LOD, then TOMRROW AM could drop to make 1020

    BUT 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

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  37. 1034 might be a bounce point here is asomov's trading range for this afternoon

    http://tickerforum.org/cgi-ticker/akcs-www?getimagenr=50306

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  38. 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

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  39. Anonymous2:59 PM

    bailing ship early here at 1041.now that volatility is back hour long gains can vanish in seconds.

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  40. Jay how many bars do you show between 330 and close?

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  41. Would be VERy interesting to break 1029 or less at the close and touching 1020 at open

    Jay

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  42. not a bad idea after8 it may be tricky thanks for your observations

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  43. no kidding Jay and the futes would be so messed up all night on direction

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  44. 120bars at 10am tomrrow
    is 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

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  45. 258bars hit at 1pm Yestrday
    thus 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

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  46. Anonymous3:09 PM

    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.

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  47. Jay, I assume you are reffering ti SPX cash numbers and not ES?

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  48. spx CASh unless I specify otherwise
    Jay

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  49. Anonymous3:30 PM

    GAP-UP tomorrow, then quick consolidation/correction, then resume upward trend into FED.

    tlc

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  50. went long they are selling the dollar

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  51. 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

    IM OUT- now in cash

    Jay

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