Reza look at the top chart it shows this down wave has a lot further to go tonight and in the morning...I got burned a bit the down wave Helge showed this morning ending at open but it extended a few hours.
Today's action was very bearish...does not feel like the declines of last year. Real buyers are absent. We probably go down faster than people think further crushing the buy the dip retail herd
If this sell off holds, we might see 1080 tomorrow? In the old days, when the market was down big the night before, the PPT would come and and rally it in the morning.
That may not happen this time? I really think they will try to hold this market up until after the FOMC meeting Wednesday, and Obama's State of the Union Speech later that night.
But, they may have lost that ability to hold it up? We'll see tomorrow I guess? Good night.
-------------------------------25th-------------25th-----26th--------------26th
10 comments:
jay what are the times on those lines
rrman
sorry
NO way to delineate exact times
however, using other data
we have
150 bars @ 11:30
180bars @ 2pm
204 bars @ 4pm
the day should end on its lows
and WEd should open as did today
but wont end as well
today's 1 min OBV seems to have peaked at 3pm
120bars at 3;30
and
126bars @ 4pm
dont know which one will have stronger effect as right now its 3;35pm
Jay
it looks like 1080 could be on the books sometime before open tomorrow..
Due to Jay's chart and astro, SEC is getting nervous (lol)
http://www.businessweek.com/news/2010-01-24/nasdaq-s-hyndman-sees-new-sec-short-sale-restriction-next-month.html
Reza look at the top chart it shows this down wave has a lot further to go tonight and in the morning...I got burned a bit the down wave Helge showed this morning ending at open but it extended a few hours.
http://cyclelt.com/INT.htm
Today's action was very bearish...does not feel like the declines of last year. Real buyers are absent. We probably go down faster than people think further crushing the buy the dip retail herd
ANON
Very clear thinking.
wish we knew who wrote that
Jay
HEY RRman your link http://cyclelt.com/INT.htm
looks bullish from here until beginning of Feb
If this sell off holds, we might see 1080 tomorrow? In the old days, when the market was down big the night before, the PPT would come and and rally it in the morning.
That may not happen this time? I really think they will try to hold this market up until after the FOMC meeting Wednesday, and Obama's State of the Union Speech later that night.
But, they may have lost that ability to hold it up? We'll see tomorrow I guess? Good night.
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