Jay
NOT exactly what WE were expecting FOR THE Whole DAY but we were warned about a STRONG GAP OPEN.
Note the OBV is showing LESS strength near the end of the day as the dow made slightly higher highs at 3;30pm, but on increasingly WEAKER internal strength
Also note the PC ratios which were 66% bullish on WED close are now 80% bearish tonight
Jay
22 comments:
thanks Jay. well, GAP up was expected, but didn't expect such a huge gap :p
The ekg looks like the HOD will be later in the day?
Nice spike - wiped all profits and in loss from yest entry ...
AS
They are having hard time finding buyers at this level, lets see what happens
"the market can go to 10340 -370 and then ... then we'll go short. "
Maybe I will hold on going short?
Abdullah
You were correct. I saw after fake prints of 14.75 on FAZ, and also 22.30 on SKF, also 109 on SPY. But I did not expect it to be this gap up
Reza - took small initial position of FAZ @ 14.72. Will add more as the day progresses.
HOd at 26 hours can extend to 11am where we are right now
reading did indicate OUTLOOK brightens, but CHANGES later
Jay
Once we get to a LOW on close Friday we SHOULD EXPECT MONDAY to
repeat TODAY
Jay
EKG does NOT indicate a TIME OF DAY
BUT My original weekly timing did call for a High mid day today
NOTE>
Yesterdays flash dive at 2pm WAS NOT due to BEN, there was a 204b Cycle right there
Jay
no hod at 10,just the oipposite in higher highs and markets breaking through the downtrend line with vigor...
I would take your daily and turn it upside down and look for highs into fri/mon,a minor pullback then higher next week...
The real question is this.. how far is this going to go before they feel they've lured in enough longs, so they can roll over and rape them? My first guess was the 10,350 level which we are getting awful close to. I still think that between 10,350 and 10425.. it feels satisfied, and then does the rug pull.
FRANCOIS
keep in mind that
Cycles have ranges in time & price
jay
jay
even though your daily graph shows friday's low will be lower than yesterday's low, do you agree Friday's low might just be a small pull back and STILL higher than yesterday's close,thus the daily would be wrong?
Guys keep an eye on the FP's and share the ideas
Ayush Khatri posted this two days ago, he is a trader not a bloggist, just interesting thoughts:
Hey Guys,
I've been hooked onto this blog every since discovering it a few weeks ago. I just started trading about 8 -10 months ago and have become recently completely fascinated by technical analysis. The more I read about it , the more intense and amazing it is .
I barely know anything about EWT and am still learning about it . I wanna throw out an observation I made about an hour ago and get your thoughts and feedback ( like I said, I am new to this stuff so any help will be appreciated)
I see some awfully similar DAILY candlestick pattern develop between the patterns of 4/22/2010 to 4/30/2010 and July 9 till today (July 20 ). I used the six month daily chart of the Dow Jones. Will try to post it here but it may not work.
According to the candlesticks and patterns, as long as we can close BELOW friday's open , i believe we will have a confirmation on a potential top and an excellent place to go short and hold into the weekend becuase if the trend is confirmed like we see in the April candlesticks, then we are definitely going to 9500 on the Dow by end of next week.
I know a lot of people are bullish going into tomorrow given stellar earnings from AAPL (which again I believe will pare its gains) but I think tomorrow will be a down day towards the end and this should especially confirm what I am talking about here. Then next week there will be blood.
Let me know what u guys think.
FP for tomorrow
107.12/109.76
Someone keep a record of this and will play accordingly if it works out
Reza - I have been keeping track of these for 2 months ... in the last month they stopped working now working again in last 2-3 days ...
My theory is that all blogs HOB, red etc were talking about the FP so they stopped working .... if you publicise too much, it just stops working ... so if you keep quiet and keep in small groups then it can work
Right now the open FP are :
107.12 , 106.18 and upside 112.4 - keep an eye but don't post on high profile sites if you want this to keep working ...
AS
Use email,
TOMMROW COULD a COMPLETE wipe of today's gains
Jay
Jay
I Agree!!
Ricky - very interested in learning more about the cycles you use as well...
Helge shows today as high at open and close way down ... lowest for the week ... is that what you are seeing too Jay / Ricky ?
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