Chat ROLL seems OFFLINE
BOT short on last rally at 12;21 as I indicated might offer a quick run up
SPX got back to 1127
Reza
SPX high at 1220
- 120= 1100 & 200 day at 1095
got to 1070 intraday Thsday on a wave 3 THRUST
wave 4 NOW seems to be in progress with MAX highs at 1140 = 80 pts from high
10:20 was 13 day cycle SEGMENT pivot low within 8 minutes - actual at 10;28
Monday has next 13 day at 11;26 along with 156bars at 11am
and as today, SEEMS to have keyed the LOD off EUROPE close
Multiples of 40 pts are the RULE of THUMB for the SPX
thus
1220- 160 = 1060 , and very close to yesterday's intraday low
could that offer another attempt on Monday ??
that level of 1060 also = 13% fibo
Its a level that I had mentioned in March
It would be typical for a wave 5 to close on its intraday wave 3 low
any other scenarios are welcome for discussion
13th with MERC direct and new moon does offer the next pivot for a BULL trade
more later
Jay
buy buy buy. 1117.7
ReplyDeleteAfter8
ReplyDeleteare you sure you want to
do that
if you do, and we close at a high
then you will be vindicated, but if not
read my jaywiz live dialogue about April 2000
ITS HERE AND NOW
Jay
Jay
ReplyDeleteAny updates for the close
Looks like gap down. Jay any thoughts
ReplyDeleteJay
ReplyDeleteAs you mentioned. One more rally to 1225 area
http://www.etf-corner.com/.a/6a010535da87f8970c01348095024a970c-pi
Reza
ReplyDeletethat was 1125 at 12;21 today
DONE & over
jay
One of the main reason I stopped out yesterday and locked in my profits in TZA & TYP is because the with Obama coming on to lie about how great the jobs report was, and the Fed feverishly printing money to give the banks so they can buy stocks, there's no doubt we will not get a day like yesterday. But as you can see by this incredible chop, it's not a day to do anything but play daytrader and pick off quarters on the bounces ( or dollars, like the big recent SPY bounce)
ReplyDeleteI will not be doing anything (CASH & FAZ). Monday is the key day, not today. Today is the fall out from yesterday.
All the fireworks will happen on Monday. If there is bad news out of Europe.. Monday will be blood red. If nothing bad happens we'll have a major bounce maybe 500 points in a few days. Time will tell.
ReplyDeleteAbdullah
ReplyDeleteThis is one of those RARE wkends to be SHORT
News should turn SOUR on Sunday and spill over from ALL of EUROPE to the US mkt until about 11;30 when they start to close overseas
And then we get to settle down
JUST LIKE FRIDAY
Now another thing
Coincidental or NOT
13 day cycle segment HIT AT 10:20, and the LOD occurred at 10:28-- hmmm
Pres came out to talk right after
and the DAYS REBOUND HOD hit at 12:21pm on an energy sequence
SO the day was NOT MANIPULATED by ANYONE
Jay
Hi Jay, from a TSX perspective Im watching OIL, I believe 72-75 is a for engery stocks such as HEU, XLE, XEG great entry point.
ReplyDeleteJAY, How strong do you feel that will hit 1080-1060 next week? If we dont sell off Mon/Tue than will finish the week higher. RED Dragon seems that will hit SPY 105-109. I hope he is right due to it will be a GREAT LONG BUYING Opportunity...
Hope you have time to respond
Thanks
Joseph
All cash here, so dont care where we open on monday. But my projection is we get a 2-4% rally on Monday-wednesday. Opens above 1120. Planning to short above 1140's. DONT double up to short if it gaps up as it has potential to even extend to 1160.
ReplyDeleteIf we dont gap up and move up and instead gap down and crash, I will be ready to buy.
Odds favor gap up, though.
Good luck!
Joseph
ReplyDeletePower index still points to a low on monday & strong rebound on Tuesday
I Like RED, but i cant go by how it feels
Jay
Monday's read
ReplyDeleteWAIT one more day for making decisions
today is a struggle & demanding
Jay