This is NOT exactly the same as the previous chart.but it is very similar
minor differences occur in the first week
TODAY, DEc30th has JUPITER SUPPORT until 3;31pm
Things could CHANGE dramatically afterward
Activity index is HOLDING all day at 66- quite low
it was at 33 most of the nite
Jay
30 comments:
My gut tells me we don't make a higher high - That will happen in March. But as you say, nobody really knows.
http://stockcharts.com/c-sc/sc?s=$INDU&p=D&st=1990-12-20&en=1991-01-29&i=p48724064556&a=187170992&r=207
chart of the last Lunar eclipse back in 1991 blue moon to boot about a 7% move just about right to go long till April
Astro 8
Go long till April? Do you have anything technical to back up that hypothesis?
I don't know bubba.
tky
This market is gonna drop like a stone after the Newyear day. bling bling.
mark
Is market open whole day tomorrow or just half day??
sam
Is market open whole day tomorrow or just half day??
sam
Amazing what a lazy search finds. Took me 10 seconds.
http://www.nyse.com/about/newsevents/1176373643795.html
OPEN ALL DAY on Dec31
ONLY half days are
Nov 27
Dec 24
ALWAYS the same
Jay
WElcome Dave
thanks for logging in
Jay
If the market is this dead already, what's it gonna be like tomorrow?
sam
Market should be moving up here but the lack of volume is killing momentum.
Sally
unfortunately TKY my charts only show price to the left. Dang. But if we sell off to the end of jan i think a bounce up to April then we see another Saturn Uranus conjunction then down to the end of May perhaps and bullish again. I am not Nostradamus but I do like to have an outlook
Astro 8
Thanks to you Jay, for sharing this work.
Weakness appears to be showing in the small caps and... Silver..!
Have a feeling events in Iran might be used to excuse the distribution that is pending.
Wow, this is painful holding short, think we come back down tomorrow Jay?
c
Gap down!!!!
x
Helge's chart 1 has been tracking pretty good for the last few weeks on the trading hours only part shows the big down day tomorrow that Jay's chart also shows...
http://www.cyclelt.com/INT.htm
Jay, on another you mentioned buy the dips on Dec 31 for a strong rebound
https://www.blogger.com/comment.g?blogID=19117057&postID=641148539243038405
Congrats to those who are still short. 1030 was a top that we won't see for a long time. A swing trade short should last well into January.
tsv
looks like they are going to gap it up for the open but if Helge's chart is correct we gap up and are down the whole day....I was wondering how we could get enough down with a half day trading but I see where Jay said its a normal trading day so it should be interesting...
I have a feeling that wave 4 bottomed today and we saw the beginnings of wave 5 up at EOD, which could potentially mean that we top by 4 Jan. I still like 3 Jan as a significant CIT, starting a correction that takes us to a lower low on 13/14 Jan. But 11 Jan should be a strong rebound rally day. Too many price-time cycles squaring on 3 Jan...
rrman,
Flash has 12/31 and 1/4 as up leg turn dates, which means gap up opens that top after the first hour or so.
Attempting to make a case for a top yesterday at 1130 or tomorrow at 1135.
I've been thinking that unexpected could happend and the bottom drops out sooner than the mid-January targets of 1140 to 1160 that almost everyone (including me) has put out lately. Here's one possible re-interperation of the large rectangle and thrust.
http://pugridironsma.blogspot.com/2009/12/dec-3...
Happy New Year to All !
here's Joe8888 from xtrends 40 day cycle chart it seems to agree with you PUG
http://www.screencast.com/users/chartwiz/folders/Jing/media/e6b6a616-5891-493f-af7b-e55b2d230557
This super light volume will come crashing down soon. 1130 was the top. This will be the best swing short play for a long time. Short from 1126.
steve
iT'S Rally Time! Bears are going to Burn here.
1165 here we come!!
Humble1
Futures are up and the bears will get burned for the last time this year. Tough year for the bears.
The Bears aand their shorts are SCREWED.
I have a target of 1210 by Jan 7/10.
We will not see a correction until October 2010.
snort
OK, here it is the big finale. One of the greatest stock market runs of all time, off of the March 2009 lows, will officially turn the calendar page this weekend, and oh man will it go out and come in with a bang....especially for shorts. If you're short, and you think March was bad, or July was bad, well the best (or worst in your case) is yet to come. After sorting out the low volume nonsense the past 2 months, and the waves from 2009, and the prospects looking ahead, March through September 2009 was wave 1 of an elliot wave up. True to most bull markets' form, you'll hear plenty of other theories---like that this is wave 4 still of the downward count, and accordingly we've see a-b-c up down up as an upward correction before the "big finish" that takes out the march lows. And true to form, before most shorts realize they're wrong, the bull market is past old highs, lol. Well, we've just witnessed wave 1 March-June, wave 2 late June/early July, wave 3 July-August, wave 4 late Aug/early Sept, wave 5 mid/late Sept. Then we had a typical expanded flat correction from October through December--I give you wave 2.
what does this mean? as early as tomorrow, we'll launch into wave 3, the first fractual wave 1 of which will carry us beyond 1165 sooner than you think--and likely beyond 1200 before even a shallow correction takes place.
There are going to be some big days for the dow and spx coming up--and I expect the spx to add 4-5% before January ends. As far as participation, our leader is standing tall at the moment, and its generals are tearing to record all-time levels--dont own Apple but I'm long IBM 130 and 135 Jan calls. Media and energy stocks have just rallied, the passing of which often signals the rebirth of a fresh leg up as one cycle up ends. Look for financials to emerge once again--perhaps not in masses as before, but with clear leadershp--JP Morgan, GS, maybe even Citi now that capital levels are adequate (so they say for now). Consumer staples have rallied significantly the last 3 months, expect them to pull back--I'm talking about your health cares, your Supervalues, and your Kelloggs. The materials and techs are on fire, this will continue. Energy participation would be a plus, but I think this leg could be more about the refiners and integrateds like Chevron and Tesoro than drillers and producers. Discretionaries will be a stock pickers delight, with more monster gains for those who can pick out this wave's J Crews and Abercrombies.
Good luck to all--markets like this dont come around often--dont waste it being wrong and short. The explosion starts as early as tomorrow....dont get snagged shorties!! As much as I enjoy the dividends of short covering in my pocket, it would stink for anyone to miss whats coming.
jhoe
Wouldn't be surprised to see 1200- 1250 in Jan , and 1300 in March .
Maybe a 10% correction late summer into fall.
The biggest moves usually are the latter stages of a rally .
Blow-off moves usually happens when everyone piles in at the end in fear of missing out.
With all the cash on the sidelines , I think this will happen first quarter.
I will be scaling in shorts at 1250-1300 at the end of first quarter
Simples
Is anyone familiar with three peaks and a domed house.
Wonder where are we right now
http://www.thepatternsite.com/3peaksdome.html
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