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| Aug2nd @ 8am |
Congress needs more recess periods.
They did the same thing with Govt shut down at Easter, if I remember correctly
Today looks like seriously LOWER LEVELS should be reached by the indeces
EUROPEAN banks in trouble
BKX on the verge of breaking to new lows
ONCE 1274 is broken, and it looks like it will be at open, then the next level to look for is 1232-1235
The SPX 40 pt (rule of thumb) might work quite well here today
1356 - 1236 = 120 pts / 40 = 3 of course
PC ratios closed 80% bearish yesterday
Activity index is hovering at 66, a very low level
Impact stream is pointing down
Power Data shows a GAP lower open & it continues to drop further afterward
LOWS could occur at
90bars @ 11:30
120bars @ 2pm or 126bars @ 2:30pm
Neg energy at 3:18pm & 3:57pm could keep them down on the farm
WED projects to open UP till 26hrs at 10am, but the rest of the day looks lower, and COULD
make the intraday low of this decline. Aug 3rd has been indicated by some to be the CTR of attention
for this cycle.
MORE LATER
Jay
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