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| August 3rd @ 8:45am |
close out shorts yesterday at CLOSE- NOW getting ready to SHORT again
Today
MONEY FLOWS in AND OUT
BEST in AM
Worst in Mid afternoon - URGE TO CUT & RUN
204Bar @ 2:30
Neg energy at 2:53pm
THE LOD should occur within this time frame
More Later
Jay
AMAZING WHAT CNBC can make of a positive trading day
and call it a turn around
Heres a chart FROM DANERIC- is SPEAKS FOR ITSELF
TOMORROW HAS FOUR LONG TERM & 1 short term CYCLE SELL OFF CONVERGENCES
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| FROM DANERIC"S BLOG- HIS link is on the main page |
LAST YEARS APR to JULy coorection from 1220 to 1010 was 210 pts
1370 - 210 = YIKES 1160
BUT along the way
210X 78% = 164
1370-164- YUP 1206
MORE LATER
Jay
2 comments:
ISM NUMBERS
what a JOKE mkt playing chicken with spx @1250
SPX held 1250 and bounced to 1257
Thats ALL they wrote folks
TAKING THE GAS PIPE NOW at 10:30
13 day pivot at 11;30,
last pivot was on JULY15th and the NEXT DAY plunged TO A PIVOT LOW at 1296 at NOON
WE may see something very similar this week
1235 is next and if that fails then 1206 could get hit today:
IF NOT TODAY, then TOMORROW by NOOn would be my next best guess.
Jay
ARMS INDEX TODAY AT 2:30pm is only 1.76
YESTERDAY was at 3.00 most of teh day and closed out at 4.4
WE NEED ANOTHER 4.0 or better before a pivot can occur
Jay
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