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| May 5th @ 9am |
Today's OPEN as PREDICTED will open LOWER and find support at about 1334-1332 level
220bars & 13 hours at 10am
HIGH Energy at 11:39 to noon might find the spx at recovery hod
258bars at 1pm could draw the day lower at that point, thus allowing further gains on the day, or at least back up to the noon high.
rebound from the open lows should continue thru Monday at the noon hour before running into
strong resistance.
Tomrrow's employ report could offer the same type open, but the day looks like a recovery and higher at
the close leading to a high Monday about noon.
1370 - 1330 = 40 pts and very typcial for the spx as a rule of thumb
recover 78.6% = 31.40 + 1330 = 1360.40, and if it supercedes that, we could get see an attempt at 1400
on Tuesday May 11th
BUT the drop back late on the 9th and 10th could limit the rebound to 1360
Jay
JUST AS PROJECTED
AN early LOW gave us a BOUND at NOON
great trade on that one.
AS IVE SAID MANY TIMES- GOLD< SILVER OIL down sharply
Tomorrow they are expecting a bad employ report, simply because today had a bad jobs report, but the LOWS today hit on the bar cycle pivots
258 bars hit a little late at 2pm, but within limitations
30bars at 3;30 exactly dow off 200 pts, and all the internal indicators
bouncing off that low into the close.
Now that the SPX is at 1335, its right on support levels and hit its low at 1329.
high 1370- 1329 = 41 pts and right on the 40 pts rule of thumb
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Power data shows potential for rebound in the AM, lower by the close, but Monday's energy shows possible rally till noon.
Jay
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