Friday, May 07, 2010

May 7th EKG UPDATE


This might be a little more accurate for today

and a late sell off or WEAK afternoon should lead to a continuation of the sell off into Monday

Monday cycles
150 bars @ 10:30
180bars @ 1pm
204bars at 3pm

IF we get a SHARP retreat on Monday in the FIRST hour, that should set the lows for the week
as the next 2 days SHOULD settle into a narrow range, thus getting ready for UPSWING later in the
week on the 13th and or 14th along with Merc Direct & new moon

Jay

9 comments:

  1. Jay

    This updated post makes more sense.

    We also have a new moon on the 13th which in this case does look like a relative low setting up quite an impressive rally into May OPEX though to about SPY 120 max,..., a lower high!!

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  2. Kc
    OK,
    I just noted on Chat roll that the new moon on the 13th is the game changer

    Any low Monday should meet with some support till 13th with bottoming process

    jay

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  3. KC
    Europe effect almost over for today
    and will pick up again Sunday night effecting Monday till about 11am

    Jay

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  4. I think we are all trying to wind down from yesterday but yesterday was a perfect fractal of the 8/16/2007 low which implies the general trend is up into May OPEX.

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  5. 105 looks possible for bounce next week

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  6. chat roll not working??
    BOT short at 12:21 as previously indicated would be a short term high
    and so far it was

    dow up 18, fell off right after

    Jay

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  7. Once it hits 1047, everyone will be looking for H&S, so bears will wake up to short. Seems thats when market will turn

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  8. Reza
    Great observation
    get ready to go bullish when the BEARS come out to play

    Even with that HUGE drop yesterday
    the Jaywiz index was a LOW 21 indicating more selling on top of the 43 from the day b4, and a 20 on Monday

    Lets hope they can CAP off that monster OIL spill so I can swim at Naples beach this summer


    Jay

    ReplyDelete