I had thought we would see a lot more today, but they are holdingneed bad news anyone? -I guess the mkt does
UPDATE AT 8:30am - Monday JULY 12th above
This is really prelim as you can see the END OF DAY is NOT finishedANd as we have seen OFTEN, that MID DAY RALLY does NOT have to respond
to the PICTURED AMPLITUDE
SO< Reminder== DIRECTION is MUST more important than Amplitude
in other words
it looks like it could be SOLID DOWN day thus confirming the power data graph
THE DOW made it back exactly 60% of the 980 pts loss from JUNE 21st to JULY 2nd
Anyone looking at the TRANSPORTS might consider IT'S
recent high a NON CONFIRMATION,
assuming we start DOWN STRONGLY in ALL indexes Monday
More later
Jay
13 comments:
Dow Jones trading near 50 week moving average
http://niftychartsandpatterns.blogspot.com/2010/07/dow-jones-trading-near-50-week-moving.html
They are waiting to hear what AA says at 5 pm about the overall economy. If AA says good things, tomorrow we'll ROCK higher. If AA says things stink, we'll open red and then recover some as they look forward to INTC.
Abdullah,
I respectfully disagree.
"They" already know where the market is headed. If the intention is for the market to tank, it will do so no matter what AA, INTC and anyone else reports. The opposite is also true.
"They" have already decided if this is to be a sell the news (good or bad) earnings season or whether it will be an excuse to drive the market up.
Alesund - point taken. The criminals running this country know ahead of time what is ahead of us.
it looks like Helge is getting back in correlation he says down into tues night this longterm chart has been pretty good just was a little early on the upwave last week but it shows down into the end of the month then back up into the middle of Aug which fits well with the summer trading range that the tza chart shows....
http://www.cyclelt.com/SE.htm
rrman
that agrees with big drop tomrrow
SEE www.ELWAVERIDER.com
He shows how the ENDing Diag was broken this morning
and now just waiting for the other shoe to fall
His updates are avail on twitter
Jay
jay any idea if the eclipse will move the market it is a pretty major event..
ending diaginal broke at 11:03 and then the market went right back up!
how we going to drop tomorrow?
AA and the other it out and better than expected.
probably hit that 1090 tomorrow
it could be a boring week with an upside bias, until late thursday... and then the big turn on friday? will stay on the sidelines until then
cementzak
TECHNICAL INTERNALS
JUST SCREAMED SELL
ARMS 5= .67 WAY UNDER 1.00
TRIN 5 = 337 WELL UNDER 400
I dont know how long the mkt can hold up against all odds, but its NOT a matter of IF, its JUST WHEN
EVERY MONTH since March 6th, 2009, there has been a greater tendency for the mkt to find a HIGH mid month from the 16th to 20th
AND SELL OFF end of month into
1st to 5th
AND thats the way its been
Jay
TECHNICAL INTERNALS
JUST SCREAMED SELL
ARMS 5= .67 WAY UNDER 1.00
TRIN 5 = 337 WELL UNDER 400
I dont know how long the mkt can hold up against all odds, but its NOT a matter of IF, its JUST WHEN
EVERY MONTH since March 6th, 2009, there has been a greater tendency for the mkt to find a HIGH mid month from the 16th to 20th
AND SELL OFF end of month into
1st to 5th
AND thats the way its been
Jay
Cementzak could be more right than wrong.
all the daily readings this week are benign until Friday
Friday's read says
TAKE COVER
expect challenges
its the ONLY READ that indicates STRESS
We have had DOWN mkts with benign readings but its a rarity
However, IF, big word "IF" tomrrow does send prices LOWER to 1045-1050
Then as the PD shows they should snap back late on 14th and 15th
that would take care of WAVE 1 and 2, thus setting up the end of the week to start wave 3
which CONFORMS with what I wrote about END OF MONTH sell offs,
which has been the NORM for 18 months, and maybe longer.
Jay
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