NEAR PERFECTstill holding 70%
Jay
Yesterday was not as close to reality as the EKG has been, but still not that baddid not catch the end of day recovery to a new closing high at 1194.
SOME techs are reporting that NOV 17 to 19 is a VERY IMPORTANT Cycle Change
and even consider that might be the HIGH of this WAVE
one important cycle on
NOV 17th is 144 tr days from April26th
there is also a high energy force working at that time
as well as the OPTN Expir
& FULL Moon on Nov 21st
I cannot DISPUTE that at all, but it would mean the Current wave continue s
to vacillate ina narrow range between 1177 and 1200 to possibly make a top at 1220 or higher, thus matching or slightly exceeding the APR 26th HIGH
OR
is Nov 17th the RECOVERY point back testing a declining price line from a PEAK
today as indicated by a huge CLUSTER of cycles as shown by Ian at his blog
elections did NOT disappoint, and Im sure the FEd will not either
buy the rumor- sell the news ?????
more later
Jay
258bars at 10:30 could set the lod for the day,
OR 60bars at 3;30
OR both
Also got a pivot low due 78.6% /13 day at 12:25pm
Along with 30bars at 1pm
and neg energy at 12;40pm
more later
Jay
22 comments:
Jay,
The possible LOD bars seem to conflict with the EKG. Could you please clarify.
If Benji doesn't cough up what they consider to be enough QE, we're going to probably see a smackdown. But, Benji will probably leave the door wide open for more QE "if needed". That way the street can always anticipate that he'll rush to the rescue some more in the future.
Up until now Benji had free reign to do anything he pleases. None of the Democrats were going to assault him. but now there's people in the house, and two more in the Senate that very well could get pushy and say "hey, the American people put me here to see what's going on, and one of their questions is the Federal Reserve, so I'm going to investigate their every move".
Could last nights sweep change the whole short term mantra of the Fed? I believe it could. I do NOT know that it will, but it certainly could and that's what makes this afternoon so incredibly interesting to me.
ARAk
PLEASE PAY NO ATTENTION TO THE LINES ON THE EKG
THEY DONT MAN ANYTHING
Abdullah
I would expect at least the usual and customary $500 mil, but so what
We know the MARKET does NOT
move based on OUR efforts- or congress for that matter
The ENERGY forces we live by are only manifested by humans to do what we do and when.
We , as humans do NOT make energy, we are hostage to it, and behave accordingly en mass
And those NEWLY elected dont get to work in Congress till Jan
LAME DUCK session for next 2 months -
SAME OLD SAME OLD until then
Jay
The markets have already priced in QE2 to a certain extent. How do we know this? The recent two-month surge in stocks can be credited in large part to another expected round of QE.
I don’t see Benji backing a policy causing the markets to plunge into the end of the year. Not delivering on QE may destroy retailers' hopes of a big Christmas season. Consumers may pull back significantly on spending. This would further muddy the already murky economic waters.
Now of course, anything can happen. That’s why watching the market reaction to this event is so important.
So the FED with $600 billion or $75billion per week = CRASH
Abdullah. Crash??? Really??? Were down only 18 points.
Keep reading what they said. It's going to be a lot more
Than 600 billion. Money is coming into the market right now. Well probably close green.
Fed says an additional 300 billion of Pomo
Reinvestment in addition to the new .600 billion.
A cash freight train. Dow now up.
Yes ... I know the FED saved the day. I am just being sarcastic for the time being.
I can Be fairly sure that tomrrow's market will open DOWN more than 100 dow pts, and maybe as much as 300 by 11am
IT WILL Recover part or ALL of those 11am losses.
A higher close today MIGHT satisfy the wave completion, but still under Apr 26th high
Jay
It is our tradition to have a 200-300 point drop after election day. WTF is going on
Reza..... Another 900 billion of Pomo money.
That's what.
If the market opens over 100 points down I'll be buying
With both hands. I'm not counting on it though.
"900 billion of Pomo money" is already factored in the last 2 months. Now this is over, there is nothing the market look forward to.
Abdullah. That 900 billion is still going to flow into the market. And there will be more after that. Don't fight
It. Already up after hours.
Jay - you had said oct 27-28 low with nov 4 as secondary low at 11 am .... after that up to nov 21st ...
Any change in that outlook ?
As.
I don't see a oct 27-28 low. Looks like a steep rise since
End of august.
Janeva - I am on the bull side too - but these were dates mentioned for the lows to be formed ... and we have seen a comparitive low on the 27th ...
Jay ... hence if we miss these dates, does it just mean that the lows are done till the 21st now ?
Basically if you think about it, For all the garbage we've heard about how great the economy is doing, our Fed is doing tens of billions in POMO almost every other day and now announces another 600 bill worth of QE. The bottom line is that just about everyone knows that the market is now not going up on fundamentals, it's going up on Free money from Benji. Since we've NEVER seen this before, how do we know how long it lasts?
I feel that tomorrow might be a trap. i could easily see us gap up and then plunge hard later in the session. If not and they just continue us higher, well then I'll have to hold my nose.
Jay obviously meant open UP 100 points,
not down 100. 900 billion is coming into the markets.
Doesnt matter if it is known or not. It IS coming.
AS
Im working on Nov
more later
OPEN 100 pts higher
how high can yu go, and for how long??????
Jay
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