Thursday, May 05, 2011

Market Timing-Whats Next -May 5th Morning report adjunct

Published May 5th @ 9:10am
This should give us some perspective on whats going on this week

We got a DROP as indicated from the 2nd to the open today on the 5th

THEN we see a FLATTENING out today and tomorrow as previously projected.

SOO<> what happened to the EXPANDING TRIANGLE wave E very hard drop??
ITS SOMEWHAT IN DOUBT, as we can only see a minor set back for the month of May so far.
with STRONG opposing forces in both directions.

As the GRAPH shows, we have 3 high points this month
May 2
May 11
May 20
JUNE 1st
And 3 PIVOT LOWS in between
May 4/5
May 13/17
May 27

THERE IS a STRONG HIGH TO HIGH cycle on May 20, off FEb 11
May 20th Might not offer new highs depending on HOW low they get on the 13/17 pivots

May 12/13th is the BEST chance we can see for a duplication of the flash crash, and IF that happens,
then we might bring back the E wave as possible.

BUT FOR NOW, MAY 11th is the NEXT HIGH energy date, and there is nothing in the way of making another high or at least duplicating it and getting a close at 1372 or above

Jay
at

7 comments:

  1. john3:50 PM

    A little more downside than I was expecting

    ReplyDelete
  2. Jay Strauss4:23 PM

    NOT by Much John;

    INstead of opening lower tomrrow, the might have set a short term low at 3;30 today at 1329

    a LOWER LOW on the 10th sets up a really good oversold bounce on a very high energy day for the 11th.

    Employ report expected to be POOR
    by traders not take any chances and sold off today in anticipation.

    MIGHT NOT WORK OUT THAT WAY
    Jay

    MACD, ULTIMATE Osc, OBV, momentum, all hit lows at the 11;15 low, and are rising off the 3;30 low

    ReplyDelete
  3. Jay Strauss4:27 PM

    JOHN
    Possibly get a run up tomrrow till 10;30 high energy point

    60bars hits at 11;30 and should take away the open rally

    but they are now setup for a VERY SHORT TERM OVERSOLD rally

    Jay

    ReplyDelete
  4. Jay Strauss6:31 PM

    BUY SIGNALS were generated TODAY
    PC ratios
    Jaywiz index
    Jaywiz ADV/DEc ratio
    Jaywiz Volume ratio
    all bullish
    Up early
    off the high at close
    RUNUP more on Monday till NOON
    SELL OFF from there thru Tuesday
    Jay
    WED HUGE RALLY DAY.

    ReplyDelete
  5. Russia11:56 PM

    Hi Jay
    If I for long term shall I wait untill June
    thank you!

    ReplyDelete
  6. Russia12:45 AM

    Jay,
    The bullish longer-term view has not changed?
    NOW it's over sold,should I wait until in June and sell off in June.
    Thanks for your reply.

    ReplyDelete
  7. Jay Strauss7:19 AM

    RUSSIA
    there is a HUGE difference from
    short term oversold, and LLONG term OVERBOT

    MAY is the MONTH of DOUBT and UNCERTAINTY

    FOLLOW the MONTHLY GRAPH
    Not my day to day updates unless you are day trading

    Please send me email if your confused or dont understand

    thanks
    Jay

    ReplyDelete