OK once againJay
chart above FROM ELWAVE RIDERIT WOULD APPEAR that IF we close at or near 1190 today,
which is somewhat indicated by the EKG, that MIGHT JUST complete wave"c"-2
OPENING the DOOR for wave 3 DOWN without warning
Fascinating that the POWER GRAPH seems to be showing Monday as a PLUNGE
And technical trader KNOWS the MKT iS VULNERABLE at this point, no matter
what the FED does
BILL MERIDIAN says the MKT runs into a BRICK WALL this weekend, and that
seems to fit a TREND CHANGE or at least that ALLUSIVE PLUNGE thru the 4th
Jay
NOT much happening todayPos energy at
10;30 am -- so far on track, and its now 11am
3;49 pm
55%/13 day cycle at noon might be a low
60bars at 1pm
reading calls for a pleasurable day
I FIND IT VERY HARD TO SEE HOW A PLUNGE IS AHEAD OF US
LAST CHANCE for near term in up to NOV 4th
AFTER which, the mkt should have legs to run higher into Nov 19th to 21st
Energy patterns do NOT show support for such a plunge
Bradley PATTERN does NOT show such such a plunge
ON the OTHER hand, from what we KNOW about markets VIA charts, graphs, cycles, Elliott
tech data, we see WEAKNESS inherent in our present price level
IS the mkt building DOUBT within a very narrow price range, or will it open up , even if briefly for 2 or 3 days thru the 4th??
What will it take NEWS, or fundamentals, to get SELLERS into the trade??
Disappointment over QE2???
Wed's read does call for Confusion
Thsday AM calls for EARLY upsets, but a positive afternoon
Neg energy did pull the mkt lower on the 28th, but NO WHERE near as low as
we might have thought given the wave, energy, charts, etc
SO where does that leave us
SIMPLE- WE WONDER WHATS NEXT- ME TOO
Jay
Jay - those technical divergences I've talked about continue to make their presence known. As I've been saying, in the past they have foretold pretty hefty pull downs, yet at other times, the market has pressed right up and over them. So it's really impossible to tell if this is foretelling a rug pull or not. I guess it depends on Next Wed's decision from the Fed about how much QE they're going to release.
ReplyDeleteIf the Fed wasn't active with their POMO.. we'd be negative already with DOW 5000.
ReplyDeleteThere's a pretty good chance 11,200will hold as resistance and sometime next week we see a major fall. Maybe it's "sell the news" after the Fed. maybe it's fear the outcome.. after the elections. Time will tell.
ReplyDeleteDon't fight the Fed.
ReplyDeleteABDULLAH
ReplyDeleteI can tell you this
NO Matter what the FED does, NOV 4th at 11am could be the LOW of the weeke
Also Friday is up against a new moon which is also abutting
a Bradley date
89 July 2nd low
55 aug 19 low
Standard time change on the 7th
FLash TURn date
This is the LAST chance the bears have to show their stuff
Till the Jan 4th ECLIPSE
Keep in MIND that power graphs shows a PLUNGE on MNDAY
I SAY SHOW ME
then I will believe it
Helge once said that the MKT will TURn when BEARS become BULLS
Jay
a plunge would be nice, but i would be happy with a 5% wave 4 correction. NDX to the low2000ish.
ReplyDeletethen we start wave 5 of C to conclude the countertrend rally probably in early 2011?
cementzak
Jay - you mentioned you were looking for a high on monday - now looking for a plunge ?
ReplyDeleteAS.
ReplyDeleteA plunge on Pomo day, on first day of month???
Short of a catastrophe, don't count on it.
Go with the high.
The only option for long is gold, nothing else is there
ReplyDeleteweekly close for xlf 14.6
ReplyDeleteI will wait to cover shorts at 113.49
ReplyDeleteJaneva
ReplyDeleteYour probably right about Monday
Im just reporting what Ive got from the scientific data of the power graph
Overall its only 50% correct on ave, so thats as good as ZERO
But I did adjust the data last week, and it is working better;
I just havent published it till I see the results for a couple weeks
Jay
Janeva
ReplyDeletethe POWER graph is in CONTRADICTION with ENERGY for MONDAY, which does indicate a benevolent day
and 39 hours cycle on Tues @ 10am could provide the HIGH & Turn lower
So the POWER graph COULD be off by one day
Jay
there are 2 important fibo cycles coming in NOv
ReplyDelete10th has 3 fibo convergences
off previous LOW
7/2 for one
Nov 17th is 144 tr days from
April 26th, and could be an important HIGH
and the FM is on the 21st wkend
NOv 26th this year is a HALF DAY
Jay
long not safe
ReplyDeleteno Jay, we'll tank on Monday. don't change your mind about that.
ReplyDeletegetting tired of that pomo and don't fight the Fed nonsense.
take care,
cementzak
Cement.
ReplyDeleteIf you fought the fed and Pomo since august 27th,
Then you've been slaughtered. Short of a terrorist attack
Or huge natural disaster, Monday will not plunge.
I'm assuming you are fully short now????
Hey cements.
ReplyDeleteMe and the Feds Pomo will see you and your
Elliot waves on Monday. New highs over 1193
Invalidate your waves. Don't fight the fed.