Couldn't ask for a better depiction of today's actionThe OBV at days end appears like the open should sell off
And the energy atmosphere till about 1pm is moderately negative
BUT the EKG is not very negative.
POWER INDEX shows
a LOW tomorrow - Thsday
Fri Flat
Monday UP
Down on Tuesday
Looks like today is day ON HOLD258bars at 12;30
Neg energy at 1:30
could be the lod as shown above
End of day does not have to close lower, but there is some disruptive energy at 4;24pm
IF the EOD does end lower, then there is an over ride of the 258 bar /21hr low leading us look for the next 21hr cycle to head lower
Jay
11 comments:
S&P 500 futures before opening bell:
LINK TO THE POST
One thing to look at and follow is the FTSE. It may a closing high on Jan 11. vs. Jan 19 for the S&P. Then made a closing high on Apr. 15, vs. Apr 23 for the S&P. The FTSE high occurred about a week before a closing high on the S&P and then a selloff occurred both times. So when the FTSE quits making news highs, I will expect the S&P to then start to slow down. This says we haven't seen the high in this move in the S&P yet, as the FTSE is making new closing highs.
Of course this may not work, but watch it.
Hi, a must listen: http://www.youtube.com/watch?v=0MF8Wa4XrEI
If the USD does retreat, what effects on the stock mrkt do you believe will occur
Thanks
Joe
SHORT
Like I mentioned yesterday, I am still expecting one more push up ... which I think has started today .... and we are in wave 1 of this push ..
Based on Jays EKG, it seems that we may see the start of Wave 2 today as well ... levels I am watching are 1101, 1115, 1130 ... will see the reaction once we reach these levels..
There are lots of bears out there and I have the feeling we can get a massive squeeze - specially if we break 1130 ...
Fred - very interesting ... thanks for sharing !!
Fred
The MAIN influence does seem to be from the 20th high to OCT4th low
last month was similar, but the 26th/30th gave us a late month low rather than an early month low as has been more typical for about 18 months now
Jay
ST BULL TRAP!!!!
Mkt forming an inv H&S on the top … wrong location but pattern is there … if we bust this area, the tgt of the pattern is 112.15 – 112.2
es dec. 1068--1078 by friday
Sam
we will be lucky today to see 1075 by 1pm.
tomrrow open opposite of today
Jay
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