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| 8:15AM March 7th |
Looks like we get both bull & Bear OPPS today, but I doubt it will amount to much either way
spx 10 pts or Dow 100 could offer the range, but thats about the same every day
Today's Psych calls for early demands, better later
Bar cycles
60b @ 11;30
90B @ 2pm
Pos energy at 10:20 to 11am
Mild neg energy after close- non event?
Looking at the data, Im guessing we get a sloppy open
tradeable high this afternoon at possibly 1pm
low at 90 bars @ 2pm
Closes on the upswing
IF either or both Highs occur, theres NO way to tell if the 11am high would make a better short than the 1pm high at 8:30am point in time.
Once trading hits those time frames, 11am and or 1pm , we can look at Elliott, price,volume, A/D, and other data to give us some idea of positioning
Jay
ps: Today might just be day to watch
INCREDIBLE DAY for one that wasnt expected to be much
but that 100 dow point spread was exceeded to 170 pts top to low
SPX from 1327 down to 1303
Great stuff
TOmrrow, we will look for spx 1323 at or near 12:31pm
**
would be really great to see the closing low tomrow at 1294.
just like Alphee's chart, we could then get a rally back to 1327 on Wed
most of which would occur at open.
Jay
6 comments:
ITS 10:08 AM
5 waves from 1312 to 1327
and 78.6% x 20 = 16
1312 + 16 = 1328
MIGHT BE A BINGO this am on that high energy hit RIGHT AT 10:01 Am
Spx hit 1327.62 TWICE
NOW at 1323.62 and Nasadzq is Neg
Having completed 5 waves or an intervening X wave whats next?
1320.80 looks like very short term support @ 11:30,@ the 60bar cycle
IF they HOLD 1320.80, then we could get another run back to 1327
by 1pm.
Then a lower low possible at 90bars @ 2pm - maybe as low as 1313 ??
Jay
Got a solid 60% gain at 11;15am
on the short I bot at 10am
YES, could have held longer, but the $ was to much to let go.
Its looks like wave 3 got down to 1308, and we might see 1300 after a small rise to 1pm.
Tomrrow should ALSO open higher but should last longer till about 1pm
Jay
I am still leaning towards the side that says, we are going to work our way lower. I think the short term topback on Feb 18 is indeed going to hold as top for a while, and we chop and slop our way up and down in a wicked volatility. That's going to make some toughtrading for a while.
As the $US continues to get trashed, materials, commods, etc should see a move.
SPY just flashed 124
helge says we chop around for a few hours now then on the euro we get a half way back into early evening then back down for the low of the week 3am to 5am central
looks like 5 waves to 1303
Any rebound from here should last till about 1pm tomrrow
Im getting ready to BUY tmorrow's close as it looks like WEd should open with a BOOM
and hold it till about noon to 1pm
That makes the next best SELL Opp right at noon to 1pm on the 9th
SEE the POWER DATA GRAPH
Jay
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