this is ONE of HELGE'S CLEAREST charts above and it shows a LOWon either the 9th and or 12th
MY POWER DATA seems to ALSO show a LOW on the 12th, at the 300 level which is quite low,
THEN takes a big JUMP up on the 13th tot he 600 level.
ENERGY FOR THE DAY [12th] seems benign BUT cycles could trump energy
just as it did all this week
39 hrs at 10am on the 12th -COULD be the hod
THE JULY monthly GRAPH is STILL offering the best view of this month so far
AND IT SHOWS THE 15th as the HIGH OF THE MONTH
that has not changed
JULY 12th is
108 tr days from the FEb 8th low
54 tr days from Apr 26 HIGh
34 days May 20 low
8day June29 low
THE DAY AFTER the 12th has HIGH POSITIVE ENERGY on JULY13th
calling for powerful group activities
more later
Jay
80% Bearish PC ratios are indicating an OFF day today
Red Tide shows a DOWN day with a LOW at 3;30
All we can do is "lean" long, using small positions and take what we get.
ReplyDeleteWhen and if we get down to the spu 1045 or so today or monday, I'm buying the 1080 calls for the opx, hopefully we hit the trend line, now around 1090, by Wed ?1086 or so.
ReplyDeleteThen thurs or so buy puts (expire next day). On friday we have BAC (bank of america) earnings before the open, also citibank and GE.
For GE, don't they have a lot of overseas business? with the high dollar, this could have cut into their earnings.
also friday 10 am Umich sentiment. Last month was good reading. But confidence reading from the other goup (confrence board, I think) was down 10% from the previous month! Will this drop be reflected in U Mich reading on friday. ie Mich. reading has to get in line.??
Fundementally there is a (hopefully) decent possibility of a lot of bad fundementals a week from today (friday) to send this market way down??
I don't think this is nuts do you?
Then I'll have enough money for my 5 min Renko charts to tare ass!! I'll let you know how I make out.
Hopefully I'll be able to brag like hell.
Benj, I sincerely wish you luck on your plan :)
ReplyDeleteNEGATIVE DIVERGENCE IN DOW FUTURES
ReplyDeletehttp://niftychartsandpatterns.blogspot.com/2010/07/dow-futures-negative-divergence.html
BEN
ReplyDeleteDitto
Jay
I was looking for the market to retest the area where it broke out from 1050 area. Even though you might be able to be bullish it is too short lived. I am looking for a high to short so its sit on my hands
ReplyDeleteI was looking for the market to retest the area where it broke out from 1050 area. Even though you might be able to be bullish it is too short lived. I am looking for a high to short so its sit on my hands
ReplyDeleteI took FAZ
ReplyDeletehopefuly I see 2-3 gains by Mon/Tue
ReplyDeleteBanks JPM, BAC, C GS WFC all reporting next 7 trading days. I suspect they will be good. Question is have they priced it in?
ReplyDeleteI also bought SKF. FAZ and BGZ making bullish wedge
ReplyDeleteAstro8
ReplyDeletereading for
Tuesday is positive
Wed = also positive
Thsday is FULL SPEED AHEAD
The WAVE count so far looks like it
got to a high this morning at 1075
Consider that WAVE A
They really need to sell off
to make a wave B low
Ive got Tuesday at 10am as most likely for the pivot as far as energy is concerned
Im waiting for the power data as well as the EKG next Monday
Math model
1131 - 1010 = 121 pts
X 62% = 75 = spx 1086
X 78% = 94 = spx 1104- which i doubt we will see in the current
P3 wave which is supposed to be the weakest off all
BUT 1086 NEXT thsday off the B wave low makes a good wave count C
As for the B wave low
1076-1010 = 66 pts
x 38.2 =25 pts back to 1050
50% = 33 pts = spx to 1042
and so forth- yuo can all do the math
Of course B waves can be Viscous and retrace ALL the way back, but I doubt that will happen between
now at 3pm and 10am on Tuesday AM
Some one mentioned 1045 area, and that looks about right for a retreating B wave as the math model depicts above.
Jay
thanks for your work jay. If we get a pullback to even 1050 like i said i will take some longs. At this price to go long just seems dangerous. If i miss a trade so be it but i won't miss the down side. hehe . Some of the Bear funds seem to have a little more downside left in them. I wish Abdullah well in the FAZ position. I think FAZ might see 12.50 though before moving up.
ReplyDeletehttp://stockcharts.com/c-sc/sc?s=FAZ&p=D&yr=1&mn=0&dy=0&i=p48310432513&a=203854121&r=4011
Astro - I am banking on Arch call for 7/11 as WAR TIME and Jay's EKG being NEG on Monday.
ReplyDeletegl
Astro - i took a small position. If it comes that low 12.50 I will add more.
ReplyDeleteLooks in chartpattern.com. FAZ and BGZ are making bullish wedge. The rish reward is for some correction. I wish I had played on the risk/reward basis, would have bought TNA at 33. Well
ReplyDeletelearned my lesson. Cannot buy everything at extreme bottom
yes Abdullah i agree. Do not know about Ach dates i think its more like July 30th Mars moves into Libra and teams up with Saturn square Pluto. Not good. good luck all
ReplyDeleteWhatever it is, I am not going to get out of FAZ until SKF hits 26.70. Saw a BOT print of 26.70. Another BOT print at SPY 102.94. which usually hits within two weeks
ReplyDeleteit seems too obvious. "Everyone" is waiting for that 15-20 pt drop in the ES to buy.
ReplyDeleteso it won't???
Monthly closing level estimate around 1010 level or 1000 level.
ReplyDeleteEarly Power data seems to indicate
ReplyDeletea WILD RIDE Monday to WEd
Monday at 300 all day
Tues opens at 300, jumps to 600
WEd opens at 300, jumps to 600
I havent seen anthing like that for quite a while
Today's late rise IF it holds seem to be getting support from a high energy effect AFTER hours
Yes, Your right, BUYING LONG NOW would appear INCORRECT
taking a short appears correct but we are going to have to be NIMBLE to close out those positions without getting WHIPSAWED
MKT fell AFTER the FULL moon ECLIPSE, and might repeat that next week
ENERGY did NOT indicate such, but it could get WILD as indicated
Jay
exactly Benjoice
ReplyDeleteI've been shake & bake Long from the Gap up 3 days ago.
You gotta know what cycle youre in to understand why it's going long and strong like this although now we're close to a short term top.
rickbobby
ReplyDeletehow long will it take to go down.??
too late for a get long plan
ain't no 30 s&p pt rally before opex?
Can't the market do what I want it to do and go down 20 by tues? (used to say monday)
stockcharts : astrocycle.net. page 15 - TZA channel is given. the bottom of the channel is at 32.
ReplyDeleteRicky - can you share more of what you look at ?
ReplyDeleteObviously Helge inverted this week ... just for those who follow Helge ... the q is whether next week inverts too ...
Since we got noting today, then it all has to happen Mon & Tues which are begining to look like the 28th & 29th
ReplyDeleteSTill got the 15th and 10am of the 16th for the next HIGH & turn, but what gives in bwetween?
The WAVE Im seeing would suggest
a B wave low at 10am [13hr] on the 14th with the 10am HIGh 13hr hi on the 16th.
Jay
Jay,
ReplyDelete>>Early Power data seems to indicate
a WILD RIDE Monday to WEd
Monday at 300 all day
Tues opens at 300, jumps to 600
WEd opens at 300, jumps to 600
I thought your Power Index is generally indicative of up markets... Is it not the case?
TIA,
-Mark
NO the POWER index daTA
ReplyDeleteINDICATES DAILY DIRECTION FOR a week in advance
now only 50% accurate
Jay