-----------------------open mixed-----2-3pmH---4pmL----Feb/3openThe last daily graph was premature, and As ive said many times
its hard to determine when one day ends & next one begins
Its really best to wait for the morning graph which is complete for the next day,
and partial for the day after.
These graphs have been quite successful, so Im not going to give up on them, but
will not publish until 8am
Today shows a late sell off continuing tomrrow at least at open
for now which does show an slight uptick
we did get 80 pts dropped from 1150 to 1070
again the 40 pt rule of thumb
now we are at or near a 38.2% retrace to 1100
Using equality of waves we could possibly expect an 80pt drop to 1020
Jay
40 comments:
OK. Thanks Jay.
Now I'm officially SHORT for the day.
bob
still short here also bob hey man register if you would.....
what happens if I register?
bob
You get a pony when you register.
Jim
Looks like we get a rally into the close trend day today. Staying long here and adding more.
x
shorted to early myself,i have a high scheduled around 2.20,how much respite this offers i dont know..certainly looks like a straight up day so far.
This was supposed to be a down day according to jay. Ooops.
y
No late day selloff, we're going to get one last exhaustion push up to 1110-1120 on s&p. every dip is getting bought.
89dma acting as resistance here temporarily.
BOB, registering simply means that no one can imitate or misrepresent your comments
Jay
Jay, it looks like you're mostly right with these...
Just a day early!
Some pros I know say wait for 1110 to 1120 to get short. Don't be fooled by shorting the obvious 1100 level. We have a ways to go b4 any pullback
steve
today's a high
tomorrow's a low
there's always a pullback.
Just what degree.
Don't worry jay. Once again today you had a 50:50 chance of being right - and it went wrong.
No harm done - give the planets another chance tomorrow. Must be a down day tomorrow if the planets are still moving as they should be.
(I'll get my telescope out and see if they are still there)
Rally into the close! Next 45 minutes will be painful for shorties
x
maybe the planets don't want us to be rich this week
So what does today mean. Feb 2 is a cycle high instead of a low? I don't like today's action; it isn't following the August 1987 or last August Shanghai blueprint. Most indices will lose their TD sell count today except for Nasdaq which is the only index acting like it should.
Astro ruled the roost
over everything else
31st =Saturn 90 Pluto
FEb4th Thursday - Jupiter 150 Saturn
In between no hold back as we can see.
Got strong TECHNICAL sell signals yesterday, and Im sure they will exacerbate at tonights close
Next influence is on Thsday
Im really not an elliott expert, but just a SIMPLE look tells me wave 3 low hit on Jan 29th, now in wave 4 with 10,300 target which = 38.2% retrace, then looking for wave 5 to complete WAVE 1, or A.
Then the real wave 2 can take them back UP again thru the 15th
Jay
Hi DAve;
you were reading my mind
Jay
As ive written b4- on the guidance graphs- its really hard to tell when one day ends and the next one begins
The graphs are in a declining phase, but the markets are bucking the trend- soon to change
see previous comment
Jay
should be a 5-6 point GAP-UP tomorrow and then a no-brainer short /fade.
only 13 hrs into this 21 hr cycle.
buy first 1.5 hr low
this graph was posted this morning explaining the morning gap and it's implications, EYE see many people here continued to short into oblivion
http://www.flickr.com/photos/47091634@N04/4324776469/
SPX 60 min chart, gap 1127.38 (1/21/2010 9:30-10:30 candle)
http://www.flickr.com/photos/47091634@N04/4319089434/
the simplicity of this game complexes the human mind,
Put the ego on the altar and make decisions with your EYES
VIX was down last week and so was the indices, that was your first clue this was a manufactured move
VIX weekly chart showing the death kiss the VIX took two weeks ago to a trendline from 12/18/2006
http://www.flickr.com/photos/47091634@N04/4319285074/
weirdest close on ES ...hard to say gap up or down .. but for now I'd say it looks like a gap up from ES 1097 given the last minute block buying, unless that meant short covering buys. If they gap under 1092 ... then it confirms it was short covering .. else ... any bounce from 1092-1094 is bad news for bears.
Well i got out of my shorts at close and went long to play the 1104 ish pop here this eve then will get back in at the open I really misread this down wave the play was to go ahead and get in at the open like I thought but i held thinking the wave was late...oh well ....I can't see how tomorrow is anything but a big up day....
Still long folks. I think we gap up tomorrow morning and then maybe come down from there. Too many are waiting for this to come back down, but buy the dips has been working well so something's changed plus we're back over the 1100 line in the sand
x
in ur previous post, u were seeing February an up month.... however, u are saying now drop to 1020??
I think I might have solved the mystery of the past few days and why the averages didn't accelerate once they broke Dec. support last week. Nasdaq and Wilshire 5000 didn't get to their Dec. support/low levels until their Friday lows and thus pt. 26 on the 3Peaks and a Domed House pattern. They are now bouncing off this support to pt 27 which on the 3peaks model should be the equal to pt 19high (ie the final peak of the peaks in the Nov./Dec support area). $wilshire is following the idealized form and has reached pt19equality. (go thepatternsite.com for more elaboration of this pattern or dig up Alphahorn's early Dec. posts) The rest of the averages are following suit since their bounces last week were very minimal. (since they got to Dec. support about 5 days earlier). If the Wilshire is following this model properly, the markets should reverse tomorrow although on 15 minute chart, there needs to be at least two more up bars to get a TD sell signal.
anon that link doesnt work can't u just post an updated chart that your describing?
www.thepatternsite.com/3peaksdome.html
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back in long 1093.75 looks like we go up from here with a reversal midday
shorts back to break even again,any pop in the next 10 mins i will add short.
Going long here, looks like every dip is getting bought again and off to new highs
x
sold 1101.6 cash. stop 3.5pts
closed add-on short for 2.5pts.original still left to run..
another add-on short at 1099.6 cash.
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