THANKS for ALL the GREAT COMMENTS and DIVERSITY
Futures at close yesterday were influenced by Venus 120 Neptune - & LOOKED very positive
BUT this MORNING - MY indicators are ALIVE & WELL
EUROPE was OFF 2 % earlier but still near that at 8am
Activity index was FLAT at 100 ALL NIGHT
Flux index - FLAT AT ZERO
PROPENS index NOW in concert with POWER INDEX
BOTH SHOW LOWS TODAY and POSSIBLE lower open at 9;45am on 4th
Helio Bradley shows low on 4th
60 bars @ 11:30 along with the other cycles
90bar at 2pm
108bars - NOT one of the usual suspects but its at 3;30
a 2% drop would suggest a loss of dow200 = spx just under 1020 to 1017
WE'll see how low they get at the FIRST CONVERGENCE
to determine what to do for the rest of the day
BUT
it does appear today will mark an important low
Flash's rouge wave may have occurred after the FULL MOON LOW at 2;10pm yesterday
THERE WAS a CLEAR FIVE waves from the HIGH at 10am to 2:10pm,
and 3 waves rebound to close
NOW we can clearly see a 5th wave TODAY which should break into 5 waves during the day
Usually, the THIRD wave of this series will offer a HIGH VOLUME LOW
and the 5 of 5 will offer a PRICE LOW, & making a TURN will show
LESS VOLUME at a lower price.
Warren Buffet buying Burlington Northern - WOOPIE
and futures are now off only 5.00, but its only 8:25
Jay
so Jay i bought back in on /es at 1028 we're at 100 on your propens with lower at 1030 so according to that I should sell my long /es at open and buy back at 1030 does that sound reasonable?
ReplyDeleterramn NOt sure I follow you
ReplyDeletehigh VOLUME LOWS this MORNING at
11am to noon should be followed by rebound to at least 1pm
2pm = another low at 90bars
3pm possible rebound high & turn down to close
BUT the close should match the price low
We'll if that scenario plays out
In either case,
MY game plan is to CLOSE out shorts at dow off 200 which should occur at 11am to noon
and BUY today's close even though they MIGHT open a little lower
key word there is "" MIGHT "'
Jay
Nice gap up. I'm watching and learning from all the pros here. lol
ReplyDeleteptg
what i'm saying i am long /es now should i sell at the open to buy back later at a lower level what do you see your propens index for the open vs 11am vs 3pm....
ReplyDeleterramn
ReplyDeleteOnce they settle at 1020 to 1015, the NEXT rally should take the spx to 1070 on the 6th
I cant tell you how to trade,
you've got to make those decisions
Jay
i understand that Jay i'm just trying to get a feel for the opening bars vs 11am vs close what i'm hearing is we won't get much lower and I think i will just hold my longs for the Nov 6th lower high....
ReplyDelete1020-1015 is the risk at lows today,
ReplyDeleteNO CRASH
play it according to your own tolerance
Jay
Bought the gap down, thank you market. We should rally hard now
ReplyDeletety
rrman
ReplyDeletewtheh
low is in.
x
Please dont throw out
ReplyDeletewild suggestions unless you have some technical data to support your position OTHER than the FACT you may have bot long yesterday
Jay
Nice gap up and rally guys.
ReplyDeletex
I'm tempted to get out of my long here around 1038 or maybe 1040 if we get it to catch that 11am low...hmm
ReplyDeletepossible to bounce off the 1040 on the channel like we did last night hmmmmmmmm we went all the way back to the bottom when we did
ReplyDeletehttp://content.screencast.com/users/Kemal_1/folders/StockCharts/media/d0883b5a-0d26-4406-a29b-12e093e66f83/SPX_ST_Nov2_09.jpg
ok went short on that bounce of /es 1040
ReplyDeletelets go back to the bottom of the channel :-)
ReplyDeleteJay its amazing how your time slots are working so well when i get my sleep deprived hard head to understand em it works great...
ReplyDeleteNever short a dull market, the longer this takes the higher the chance we'll go higher...buying dips.
ReplyDeleteanon its a down day the long is the risk
ReplyDeleteALL 3 of my main indicators
ReplyDeleteshow
open low
mid day high
lower close
Not an easy day to trade
according to the above
looks opposite of yesterday
Jay
Hi Jay,
ReplyDeleteWhen you say you're expecting a lower close, are you comparing the price compared to yesterday's close or the price compared to the low from earlier in today's session.
Thanks for your insights!
Bulls just won, dollar sold off hard now.
ReplyDeleteSpratman
ReplyDeletegood question
I think I would expect a close LOWER than the open
I cant wrap my head around any reason WHY they would NOT test 1020 today.
Go over to red dragon and then link to Danerics charts
SO far today, NO new lows have been hit, and IF we have NOT yet entered wave 5 in this series, IMO< its still coming later today
in other words, it looks like they are still rebounding
from yesterday's low coming to NOW an 11am high and usual TURN
Activity index which was DEAD flat ALL night at 100 has now moved up to 166 at 11am
The mkt keeps us GUESSING its next move, but Im going to WAIT it out, UNLESS we get a SWOON at noon like yesterdays 1pm low
the 13 day cycle hits at 11;56 along with 329bars at 12;30
Jay
dollar is bouncing all stoches 5", 15, 1 hr are at the bottom and turning here it comes
ReplyDeleteHigh hit around 12:00 and probably the last low of the day 13:00.
ReplyDeleteIf Government Sachs continues to run in a downward channel, it's a DOWN day.
ReplyDeleteStill waiting for that huge rally guys...lol I've been on a short swing trade for 5 days now. Too many bottom pickers just like when we had top callers.
ReplyDeleteptg
what huge rally ptg thats tommorrow didnt you get them memo? we're just playing the waves today get a towel lay out on the beach and enjoy it
ReplyDeleteThis selloff feels weak. Maybe a bottom is near.
ReplyDeleteptg
Jay how does it look. time to cover short at noon? or waiting for the EOD?
ReplyDeleteThanks
headfake stop running before a big push down maybe...dollar not moving much why is /es
ReplyDeleteok i went long the /dx looks liek the stokes topped out
ReplyDeleteJay, no one respects your work more than I do. But, my -200 Dow indicator says we're down tomorrow. Maybe a little re-evaluation is in order.
ReplyDeleteI don't over-rule I could be completely off.
rrman
ReplyDeletemake up your mind man
jeepers