MONEY FLOW turned NEGATIVE on Friday's action, and now shows a 5th wave decline in progress.
Note also on Daneric's page, he has done a complete turnabout and is also warning of the potential to break under 1318 getting us to 1280 in a hurry, maybe even on Monday.
Energy Monday agrees with that outlook as you can see above, but do beware of a rebound rally starting
Tuesday right from the open, which could last till at least noon to 1pm b4 settling back again to complete
the wave on Wed where we have a pivot cycle convergence LOW at noon.
more later
Jay
4 comments:
Jay,
does that mean 25-31 is a bottoming consolidation period similar to late August bottom before taking off?
thank you
Worm
Thats what it looks like
Final top not till August 8-17th.
cant tell if 1370 will still cap it off or if it will go higher.
but really it matters not
AFTER May 31st,its still buy the dips until Aug 17th
Jay
GOLD alert.......
http://traderjoed.blogspot.com/
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