This is the EKG with a continuation for AFTER HOURS, or what looks like it might have been after hours, and we know NOW that it
was during the day for a rebound after 1pm @ 156bar pivot, and the 3pm pivot at 180 bars only accentuated the move up.
The open is easier to judge as I wait for 8:30 to see any reaction to any data
but the close is not that way. I have to JUDGE when to cut off the graph since the data is on a CONTINUOUS feed which makes the close much more difficult to judge.
Jay
13hours at 10am along with 120 bar cycle pivotor
126bars at 10:30 along with some mild neg energy
So far the TECH, WAVE , CYCLE & energy are in sync
scroll down to view the previous pages showing the
McClellan graph, DOLLAR graph, EDT graph, and more
Yesterday's close rebounded off the 2pm pivot
today we have 180 bars at 3pm, so we will have to see
if any rebound repeats off that pivot.
Jay
31 comments:
the next few days of trading are going to mirror yesterday, where we do a lot of grinding but don't get anywhere.
Insiders are still bailing out of their own stocks at unheard of levels. In the latest release it was found that Insiders dumped 138 MILLION shares, while buying just 35 thousand shares. Once again you have to ask the obvious question. If the insiders don't trust having their money in their own stocks.. should you?
DOW 11,200 is an important level and yes it's true that if we got up and over that decisively, I'd have to hold my nose and get real long again, because then they'd definitely have their eyes set on 11,700.
POMO pump up? Actually Fed reversed repoed last thursday $14 b, so they are trading as well. Anyone looking for a job
http://www.careerbuilder.com/JobSeeker/Jobs/JobDetails.aspx?IPath=ILKV0A&ff=21&APath=2.31.0.0.0&job_did=J3F4QG5ZCSH4B1M5KBM
SO, Now Janeva
Whats NEXT ?
--------------
Abdullah
Patience will be rewarded today & tomrrow
and will finish the job next week
November 2 to 4
QE 2 on 3rd NOT received very well at first- just makes more confusion
Jay
126bar @ 10:30 low was over run which means the next low point
to look for is 156bars at 1:30
& 180 bars at 3pm as previously mentioned
If that one doesnt hold, then it might become a complete rout
Jay
Jay - will see if the FED will save the day and close us FLAT. by the look of it we should continue down trend for the next 2 weeks at least.
Abdullah
look back at the 2010 chart
lows are still coming in withing the first few days of the month
typically the 4th to 6th
DO NOT over play this hand
A break of 1169 today should start an avalanche of selling
Jay
"A break of 1169 today should start an avalanche of selling"
a music to my ears.
Jay: your day's pattern matches very well so far, if it continues to work, we should see an end to this rebound fairly soon.
80 points is not a plunge. Sorry. And tomorrow is
Another Pomo day which could easily wipe out today's
Loss if we close lower. The market is one good day
Away from a new high.
like I mentioned before:
"the next few days of trading are going to mirror yesterday, where we do a lot of grinding but don't get anywhere."
So the FED did rescue the day.
Yes Abdullah. And tomorrow is Pomo day and end of month buying. Buying the dips was the way to go today.
150 down at 11am matched at 1pm.
EKG not at its best today
they Did today come in like a lion and out like a lamb
certainly looked that way today.
also looks like 11am might have completed 5 waves with a rebound after 1pm to close, maybe at wave 2 ?
WE'll know for sure if wave 3 hits tomrrow-ALL DAY
EKG shows tomrrow starting down, but the system is not complete until tomrrow AM
Janeva
The mkt is making a retreat- its just a matter of wave structure
now for the infamous 3rd wave, and you know that as well as I.
Your hitting me like they have done to the Pres- Nothing I do or say will make you happy
best wishes
Jay
Jay, you can't fight Pomo money. If we are higher Friday
Than we are now, you will have to admit that.
Fight Pomo billions and suffer the consequences.
Elliot wave does not work. Look at preachers record.
POMO will fail tomorrow, expect an ugly day for bulls. my target for the pullback is 1155
cementzak
Janeva
nothing works
Just gut feelings
???
Jay
EKG shows a LOW in the Am, and afternoon recovery
NOt what I was looking for, but
the daily read says about the same
OK, Janeva
buy the dip at 11am
Jay
top at sp 1206
As long as there is pomo money pouring in, and we are above the 18 day average it is crazy to short.
Buy the dips.
Cemen... Not 1155 tomorrow. No way unless there is
a terrorist attack.
1166 tomorrow
The market had once again set up a fair amount of technical patterns that often suggest a pretty hefty market pull down was eminent.
Well, in the past, sometimes these have signaled a big drop, like when we fell from May through July. But then there's other times all those indicators are ignored and we simply soar higher. So, when Monday and Tuesday started seeing some deviation from the normal patterns we've been seeing, we felt a "better" chance that they'd let the market tumble. Evidently Bernanke and his political cronies decided against it. They saved the day again.
With the elections next week, you can just smell the strangeness that's going on here. One day up, then flat, then down 150 but rescued at the close, etc. Strange days. I will continue to lean short until it stops working, but frankly I'll be nervous about it.
reza do u expect 1206 comes around 2 or 3 Nov?
looks like 1196 is not the top, so some pull back, then to 1206 right upto to election day.
This time even the smart money is short, but election is giving problems
Cemenztek - can you share what you are seeing ?
Jay - seems like we are consolidating sideways .... abc moves up and down ... based on what we say today - the ramp up was A, pullback to 11 am may be the B ... then ramp into the close will be C ...
Then pullback on friday GDP and up into the elections ...
8:30 am. Dow futures +45.
Here comes pomo money and end of month buying.
pomo money does not care about elliot waves or astrology. And there is more pomo money on Monday.
S&P 500 Futures before opening bell: CLICK HERE
This is the sort of monkey business we have to deal with each day. Nothing about this market can be construed as "normal", not even close. So we sort of hold our nose and dive in ...knowing we're facing danger each time we do it.
The initial jobless claims hit and as usual they're a work of fiction. Coming in at 434K, it's supposedly a fall of 23K, but of course last weeks numbers were once again revised "higher" by over 13K, so as you know, it's baloney. It's still 450K+ in reality. But since reality doesn't matter the futures have soared higher on the news.. we're looking at a gap open again.
Will they pour it on, and get us up and over 11,200? I dont' know but bless their little hearts it looks as if they'll try.
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