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| March 16th @ 8:30am |
IM inclined to short today's close
Today's psych calls for modest gains
Tomrrow's psych
Agitation & confusion
Opposite of yesterday
Jay
11am update
Contrary to what the ekg shows for open, we got the second leg lower right away, but looking at a graph from Monday's close, we can see the rebound is occurring in a typical 3 wave pattern called ABC
Yesterday at 3:45 at 1288 looks like wave [a]
This morning low at 9:45 @ 1273 could be wave [b]
potential for wave [c]
1232-1261= 71 pts
71X 50% = 35 + 1261 = 1296
71x 38% = 27+ 1261 =1288
Jay90Bars and NEG Energy at 11;30 in just a few minutes as the mkt challenges the 1261 low made at open yesterday- any rebound should start after 11;30 and will probably only end flat ont he day at best.
7 comments:
ANY REBOUND THIS AFTERNOON NOW LOOKS VERY LIMITED
a CLOSE that comes off any intraday low IMO, looks like a shorting opp
as previously mentioned
Jay
a SHORT TERM LOW should occur on Friday morning at 10am
There are major TECHNICALS damage and its only an indications of more DOWN to come.
HO RALLY IN SIGHT
I bot some shorts at 1;20, and will add more later
Tomrrow's outlook LOOKS BEARISH
THE SELLING from here to the 28th could increase exponentially
Jay
Jay,
What is your target for the SPX by the 28th? Just curious how much downside potential you think is in store for the bears out there...
John - I think we could see SPY trading as low as $118
VXX/BGZ exploding higher!!! hope you guys picked up some as I told you about the FP for both last week.
JOhn T
My yahoo group has estimates from
900 to 600 ?????
MY GUESS IS
MARCH 28th
Jay
all I can tell you
IT WILL BE SUBSTANTIAL
SOME one AWOKE the SLEEPING BEAR
Dollar crashing tonight
SPX futures lower
break 1250 should get us to 1200 area by Friday
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