The last 3 days have been good but obviously not perfecttoday's close does seem to point to a lower open for Thsday as all the lower indicators
are headed that way at the close.
Jay
today seems to have a positive bias, but dont expect the moon
Heres an interesting & pertinent TIME LINE
Oct 9-10, 2007 = Dow top at 14k
+233 tr days
Spt 15th , 2008 dow low at 10,900, but got lower in October
+233
8/17/09 no significant events
+233
7/29/2010 within a day or 2 of August 2nd highs
Now refer back to next weeks convergences
Aug10th is 360 tr days from Mar6
Aug 11th is 360 from Mar9th & 275 tr days from July9th
360 tr days = 72 weeks which is 1/2 of fibo 144
275 tr days = 55 weeks fibo
FWIW, Ian and another timer friend both have August 5th and or 6th as a major CIT
which obviously appears should be a turn lower according to the above time lines
in addition to the energy readings for next week .
Also
Aug 11th at 10am is a 39 hour cycle pivot
Jay
11 comments:
g'day traders, as expected c of v of C of [2] started, this should be the final advance of Minor [2].
cementzak
Indeed
i don't believe in a truncated ending diagonal, so my advice is to patiently wait for the throw-over
cementzak
I must admit, that the last doubts that I had about topping today are disappearing. Way too weak... And although I don't believe in truncated ED also - if we simply plunge here - we have a looong way to go (say 103 SPY is the first target)
well, trying to pick the exact top is hard, it doesn't really matter if you short at 1125 or 1135, if you know Minor [3] is next...
cementzak
So you see us already topped?
i don't think so. i have a target in the mid to high 1130ish, but ya never know...
cementzak
i think the dollar /dx has turned buy the dips on /dx and sell the rips on /6e euro how long it takes /es to figure this out is the question
tomorrow should start DOWN with a thud, but recover later.
friday might repeat, but not quite the same way, as it should close lower by days end.
Jay
when this thing tops it will tank and reverse in an agressive way to 1000SPX, there it might bounce...
but then later in August - wave 3 of Minor [3], uglyness across the board
cementzak
think some more upside tomorrow
cementzak
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