The LATE drop off on the EKG appears to have hit at open on the 13th.
today's EKG seem to indicate a TURN today from a mid day highwhich makes tomrrow much more important
note that the limited view of tomrrow's EKG does show it lower
Today's bar cycles
60b @ 11:30
90b@ 2pm
13day cycle segment at 10:42am
Merc direct will try to push back toward the spot where the retro began at 1200
on Arpil19th, but I doubt it will succeed, and thus a failure today should lead to
much lower levels in the next 2 days
Jay
Thanks JerryO for becoming member
ReplyDelete#118
Note the POWER index published a few times in the last few days does SHOW a CHANGE in trend which looks like it will be today given the look of the EKG
Jay
Jay - so you are thinking now through the 18th up .... no more downside ?
ReplyDeleteAS2009
AS, they are going towards the bear stops which is around 1185-1209
ReplyDeleteThey have a target at Dow 11816 in June
ReplyDeleteJust follow this chart
New high then short
http://www.etf-corner.com/.a/6a010535da87f8970c01348095024a970c-pi
Buying many many PUTS now for tomorrow's profit
ReplyDeleteReza can u post the link again pls ?
ReplyDeleteTake a look at SPY from May 4th to today's high - I see a HUGE inv H&S with neckline at 117 and tgt of 124 ......wooooahhhh
ReplyDeleteAS
ReplyDeleteyour target looks good
Senate has authorized Fed to supervise the small banks, so market should go up
ReplyDeletelookingto to add TZA at 5.81
ReplyDeleteAny thoughts?
tza has a target at 5.4
ReplyDeleteReza can u post the etf-corner link pls ... the old one not working
ReplyDeletehttp://www.etf-corner.com/.a/6a010535da87f8970c01348095024a970c-pi
ReplyDeleteAS
ReplyDeleteI will get out at SP 1220
i still favour down from here.i will cut last nights swing short at 1 tick above yesterdays high though if neccesary.
ReplyDeleteafter8, looking at EU its tough. they are still targeting bear stops at 1180
ReplyDeleteshort at close looks good so far
ReplyDeleteReza - Thanks for the chart. I may then add to my VXX position next week. TZA may see 5.40 like you said.
ReplyDeleteI'm buying a few more SHORTS for tomorrows gain.
ReplyDeletebye bye SPY
Reza on one hand you are saying short at close the other expecting 122 spy - can u share how u r looking to play this?
ReplyDeleteLAst chance for the SPY bear train. Leaving the station soon.
ReplyDeletelol
AS
ReplyDelete5 day moving ave. It does come and meet
AS,
ReplyDeleteDRV is the best scalp
Monday's rally - CNBC news- Stocks rally after Obama's picking judge nominee.
ReplyDeleteWhy?
Because she was an advisor to GS
Here's the drawing board
ReplyDeleteS&P earnings reduced by 7% - Previous top is 1220 - so market value is 1135. In order for us to get a bargain we need the market to drop from the previous low of 1050 to 980 area. But I think what is the pipeline is what they are trying to do is 1225, so a discount of 7% is 1140.
Any thoughts ?
English please - LOL :-)
ReplyDeleteAre we seeing a downturn from today?
DRV, TZA, FAZ, VXX all looking good.
Jays monthly chart looks exactly like that 980 but you know PPT
ReplyDeleteTYP looks good as long as QQQQ under 48.49
ReplyDeleteAS,
ReplyDeleteAlso look at Jay's chart for the week, down tomorrow am then up. So I think DRV in terms of that looks good
I am still holding TZA & FAZ
ReplyDeleteAdding more TZA here, CSCO earnings A/H
ReplyDeleteJay - what is the impact of Mer if we end at the highs today ?
ReplyDeleteSeems they still want 1180
ReplyDeleteAbdullah,
ReplyDeleteHold on into getting shorts. I think just go with the long term price QQQQ at 54.
took 750 TZA at 5.65
ReplyDeleteAs much as I would like to get short price is above yesterday's highs yet short of fib extensions. Also volume is super light. Best to wait for tomorrow's gap and take it from there.
ReplyDeletewe're back to square one again.its as though last week was a dream like bobby ewing coming back to life! holding shorts is just a fast track to the poor house.how can you sell off 165 big handles then buy it back up 120 in 3 days and still want for more? its crackers computer trading.back to scalping where its safer i think lol. most cycles are being twisted or ignored again.
ReplyDeleteI'm really shorter at the close today. I'm going to get shorter tomorrow morning too.
ReplyDeleteA little rule of thumb for the SPY and OPEX week.
ReplyDeleteIf the trend the week before OPEX is up and/or flat into Friday, then the SPY will trade 1 to 4 points above Max Pain for OPEX week.
At this moment Max Pain is 119 so that implies the SPY trading range for next week will be a low near 120 and a high near 124.
This assumes the markets keep rallying and/or flat line into this Friday.
If the week before OPEX is down into Friday then the SPY will trade about -1 to +1 during OPEX week from the Max Pain value.
Bought IWM puts at the close...its only up more than 7% this week lol. Crazy but true! I refuse to go long this market but always play the short side after a huge move.
ReplyDeleteJay - curious what your view is based on the fact that we closed at high of day .... do you still see the panic day on 13th ...
ReplyDeleteJay - any update on EKG today ?
ReplyDeleteAre we still looking at a panic day ... thanks for all your great work ..
Got out of my IWM puts for pocket change and sold IWM May 72 Call.
ReplyDelete