 Would you be angry if a I just wrote - WOW  | |
| June16 @ 8am |
What could that mean?
Ive mentioned this several times
Neg Energy & 156Bars meet at open tomrroow
which means we "should" /could" open at 1250 to 1225,
but is that the end of it?
Not according to the power data
tomrrow it shows a mid day high, matching high energy indicated at 1;23pm.
then it looks lower at the end of the day, also matching neg energy
but we have no idea if it will close on a lower low or not. -I doubt it.
____________
Interesting - the power data ALSO indicates a DOWN to flat OPEN
on Friday, and IMV, that would be ONE HELL OF A BUY. as it climbs higher
from there into Monday/ Tuesday.
Charts edge was certainly way off today, but he does show a
SHARPLY LOWER open for tomorrw, then higher into the 17th and higher yet.
Can we get under 1200 tomorrow??
Correct me if you see something else but today looks like
a 1,2 & 1,2 now waiting for 3 which makes sense given the above
156bars at open & Neg energy = wave 3
180bars at 11:30 AM could be wave 5
but lets wee where the spx opens after a few minutes
I will be very tempted to close out shorts, but might only do a 1/2 close
and hold 1/2 till 180bars.
_________
then they start to build waves 1,2 on the UPSIDE for a high on the 20th/21stAM.
Jaywiz index still very bearish at .24
but all the PC ratios have more bullish readings
short term overbot on the 14th
THE 5 day ARMS index gave a SELL yesterday at .87 - this is 5 day ave
& 5 day trin was 435 - this is 5 day cum
Today's ARMS INDEX = 2.41, building 5 & 10 day up to more bullish levels
but NO SCREAMING BUY YET
SAME WITH VIX @ 21.32-- wouldn't we expect it to hit 30??
IDEALLY
I would think that a SHARPLY LOWER open would back off till
10 to 10;30, then head into the 180b pivot @ 11;30, making a lower low
BUT of course the mkt may have other ideas.
There is NO other TIME that this 3rd wave low can be accomplished
the 24th has to be the low as my monthly ENERGY graph indicates.
thus that has to become the 5th wave ending the correction and WAVE (1)
which will then give us wave (2) early August
EKG also shows a lower open, and all the above hinges on lower futures
as of 7pm WEd Jn15, as I write this, the futures are only up slightly spoos +2.10
Of course there is housing starts & Jobless claims at 8:30am for which they can feed off
Oil up .65 cts also at 7pm
but its a LONG long time till 9:30am, and if both Asia & Europe are markedly lower
should feed the bears also.
Heres something else- CNBC comments bottom fishing tonight
A bottom has to accompany neg sentiment- where the comments are NOT conducive to buying
ASIA & EUROPE DOWN 1%+
OIL FLAT AT 8am
DOW future down 52
spx -5.50
More Later
Jay
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