Contrary to what I thought yesterday about this AM, we seem to have an UP opensetup and confirmed by the futures, but it does appear short lived, at least for the morning.
A Later recovery might or might not make a higher high than yesterday
or this morning but we see the trend is UP after that 11am low ive been
mentioning and might just peak at 2pm
THE POWER Graph shows a HIGH on NOV 1st with a downdraft into the morning of the 4th- JUST why that would happen on a fundamental reason might involve the FED, but
the power graph knows nothing about such matters
Jay
22 comments:
Just follow the Pomo billions. More coming in today and
More on Monday. Buy the dips.
I guess my prediction that they'll just "hover" the market until the elections could be coming true. I'm not certain that they won't rush us up if indeed the dollar weakens, but for right now it looks as if they're comfy with just holding us in place.
I just dont' see that they'll let it fall hard enough to short, and they don't seem interested on buying it up yet. So, we'll wait.
Abdullah. Just follow the Pomo money. Today and
More on Monday.
go long at 1166 for 1206. then short
Reza - where are you getting 1166 from ?
Every Tech, cycler, Elliotter, chartist sees a PROBLEM
When will the mkt acknowledge
it for real?
Just when we dont think it will
Jay
1166 bull stop line for the rally, take the stops, then the final rally
AAPL POMO pump at $293. any short get out around this price
PHLX: someone is opening to buy 20K $BAC Feb 7.5 puts for .19
$XLF a block of 50K Dec 15 calls were bought for .35 on the AMEX
Jay,
when do you think we get 1163 ES
may be tomorrow am, then Fed to the rescue
Reza
I think the FEd will be a detriment
until the 4th or 5th
then the sentiment should be neg enuf to get another really to the 21st.
some techs indicate 1169 is main support, and once that breaks, the dam might give way
YEH, I KNOW I sound like a broken clock
BUT now there are many others showing me things that support
a sell off
Ive published some of those charts & graphs here so you dont have to go hunting for them on your own
DOLLAR
MCClellan
Elliott Wave- YEH YEH it doesnt work, until it does-
etc
Jay
Jay's reading
Today
In like a lion out like a mouse
Tomm
Pleasant day ...
I would infer the downside is today , then move up tomm ...
Jay said that he sees nov 1 as a high ... and nov 4 as a low ...
Also, his expectation for downside - majow down was today with nov 4 as a secondary pivot ...
BOTH charts SEEM To be pointing DIRECTLY at Oct 27-28 as ALSO reflected by
Mahendra's projection for the same date
the next question is when does it start,
since we seem to have a handle on when it ends.
I was wondering WHY I have NOV 4th as a Bradley date, IMPORTANT BOTTOM & IMPORTANT TURN HIGHER thru Late Nov and continuing till late Jan, 2011
before repeating the decline of March 2009.
THE TURN occurs the NEXT day after NOV 3rd and supposed FED announce of QE2 - so the initial reaction, IMO, WILL be viewed as INADEQUATE
At this point in time, some will say a CRASH is possible NOV 3rd or 4th, but NOV is targeted for a MARKET rally.
POMO money today and end of month today held market up. More POMO
on Monday and Wed.
The upside I see a 3%-4% increase in the markets before noon, Tue or Wed. The down side I see is about 8-10%.
I am still waiting for 1166 tomorrow, then rally to 1206. then down to 1070 area, then to 1270 for end of year.
What do you think Jay
Dow Jones Futures before opening bell: CLICK HERE
$SPY seller of 3500 Nov 115 puts @ 1.12 right out of the gate
More Pomo money coming Monday, which is also
First trading of the month, which is the most
Profitable historically. Buy dips
Jeneva
Buy at the close. Last day of month down. First day of month up
Reza. First day of month AND a Pomo day.
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