ONCE again we see the END OF DAY rising with no late drop off, but like Friday'slate sell pictured off, IT DID OCCUR on OPEN Monday
And the SAME is VERY LIKELY FOR TOMORROW
***
LOD was at a combo of cycles
78.6%/13 day at 12;25
258bars at 12:30
LOD was at about 12;30
Jay
It does look like wave iv is not finished yet as per GURU comments on previous page
Which means we spend more time today trading near the 1200 level today until
that wave iv triangle is finished
11am- So far today It does look like wave iv is in progress with a contracting triangle
WILL IT FINISH AT 3:05pm TODAY ??
thats what the EKG is IMPLYING, but we have to see the proof at today's close
What REALLY matters is the OUTCOME of the NEXT few days till Nov 29/30
Monday & Tuesday's readings may be flipped
today appears MIXED
making tomorrow a serious day, and the EARLY EKG does show tomrrow weaker
A low is due at 258bars {21hrs} at 12;30pm
from there, a rebound to a high energy pt at 3:05 might just give us that turn
ONCE the wave IV CONTRACTING TRIANGLE finishes,
then its OBVIOUS to look for wave V.
That triangle confines the upper line to a level under 1200.
Waves 1 to 3 took out 55 spx pts from 1227 to 1173
55 X 1.618 = 89 pts which would take the spx down to 1111
Im rounding off, which I hope is OK with some ELLIOTT xperts
TIMING points toward NOV 29th
144 tr days from May6th, and we all know what happened on that day
Nov 30 is 144 tr days Nov 30, which closed lower
BUT those cycles could flip on each other where the 29th closes lowest,
and the 30th makes the TURN
Jay
3 comments:
Looks like the TRIANGLE has broken to the DOWNSIDE at 12:30pm ,
but that LOW comes right in at the 258bar cycle low, and it remains to be seen what will happen later
HOWEVER,
Any rebound appears should be SHORT LIVED, as the trend for the rest of Nov is STILL DOWN
Jay
Very possible we see 10,700 in NOV. The trend for DEC although has always been positive, the FED tend to SHOCK us. Will see if DEC turn to be an UP or DOWN month.
Abdullah
YES - Dec is generally a benign month which is on schedule for the same this year
That JAN 4th ECLIPSE is like the energizer bunny- it keeps the motor running
Similar to Yr 2000
and 2009, we might just see an early high in Jan, as the ENERGY begins to FOCUS on something other than the lunar effect
THe BIGGEST forces in our solar system head toward a meeting on March 28th which at this moment do appear should have a negative effect on the human condition thus effecting how stocks are traded
Jay
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