OK, But papa wants MOREJay
Futures indicate a LOWER open13 hr cycle indicates a quick rebound off the open
10am/13 hr cycle indicates a SEVERE downturn
given consumer & investor confidence data
Hurricane's Earl & Fiona are heading our way- East Coast
As I PREVIOUSLY mentioned- Spx 1040 has to be broken today,
and it certainly looks like it will be CHALLENGED this AM
Once gone, the next target of course is 1010
this is NOT cut in stone, but would be expected if Your a student of Elliott waves
to reiterate
1220-1040 =180 pts lost in wave {A}
rebound to 1130 in wave {B} = 90 pts
WAVE equality would suggest Wv {C} = 180 pts
1130 - 180 =950
we have a convergence of cycle PIVOTS hitting Spt 3rd
377 tr days from March 9th, 2009
144 tr days from Feb 8th, 2010
464 tr days Oct 27th, 2008 - which is an 8 day repeating segmented cycle
more later
Jay
Dow Jones futures before opening bell
ReplyDeleteMy 34 hour cycle is o the verge of a SELL signal but my 21 hour cycle is flashing BUY signal.
ReplyDeleteThat means I'll be shorting into the close and tomorrow morning OR earlier pending what my work says.
I already profited on a LONG from this morning.
I use a different INdex(my secret) so my cycles might not translate exactly to the S&P.
Goodluck
Ricky
ReplyDeletethanks for your update
Activity index at 66 all day so far at 1pm LOWER than yesterday
power index showed a high today, then lower going into close
still looking for that 377 tr day cycle culmination at about noon on Friday
Wall street eyes fixed on dow10K
traders fixed on SPX 1040
breaking both with force will
get more selling into the cycle
They need to get more fear into this mkt
90bars hit at 9:45, a little later than expected
126bars at 1pm hitting right now is ditto
Jay
Jay,
ReplyDeleteAre you getting out of your shorts if we don't sell off into the close?
Thanks
shake& bake
ReplyDeleteyeehaw
Good question Fred
ReplyDeleteSince the 377 tr day cycle is STILL
3 days off, any upside has to be very limited as it was today
AND they are selling as of 2pm
Tomrrow should be a lot more decisive toward the negative
especially if we close at or near 1040
OBV peaked at noon:30 today on one min chart, and 5 min 5 day has been dropping since Monday at 10am.
156 bars at 3pm, but 180 tomrrow at 10:30
Oil took a nose dive this afternoon
I'm working on a revision of the power data which should help in the coming weeks
Jay
GOOD CALL RICKY
ReplyDeleteJay
activity index was 66 all day, and moved to 133 at 1pm, but has now dropped back to 66 as the mkt drops
ReplyDeleteJay
You too Jay
ReplyDeleteI covered just in time on a smaller cycle buy signal. My index is lagging the SPX. Went long
ReplyDelete