Market Timing-Whats Next -Aug 9th _ Fed offers words of Encouragement

 

Given the WILD ride today , we might surmise this is a 4th wave thus making 

spx1119 the bottom of 3- Often the Market catches up with the EKG and DIVES the NEXT AM. 

If that occurs and they drop to 1090 in the first hour , then it proves an expanding WV4 triangle.

August 9th @ 8:45am

IF THE FED had some AMMO to offer, it would seem they WOULD HAVE JUMPED In
YESTERDAY
TO GET AHEAD of the CURVE
 BUT HOPE SPRINGS ETERNAL , and we see a higher open

13 hr cycle at 10am should see the high of the MORNING
NEG Energy & 228bar pivot sould see a LOW at 12;30pm
HIGH ENERGY should see a high at about 3:30pm
FED announce at 2:15 should offer some encouragement but it wont be enuf to sustain a recovery

CYCLE is STILL SET FOR A LOW on FRIDAY

more later
Jay

Today the futures are pointing toward a higher open to at least 1132,
which would be a 38% retrace of the last down leg from 1152 to 1120.
The 13 hour cycle at 10am should find a peak at that time.
IF wv 5 started from 1152, then this recovery would be all or part of wv ii-5

8am Europe recovering, but dropping back after 8:30

PC DATA today is 80% BEARISH
JAYWIZ INDEX = .44, and UNDER 50 is still bearish
ARMS TODAY WAS ONLY 1.04
99% Down Volume

NYMEX OIL FLAT & GOLD up another $33.00
productivity data was not positive, and the futures backed off

Fridays PC data was 50% bull/bear
Thsdays was80% BULLISH

ACCORDING TO THE ENERGY & PD data, we should see
a LOW at 12:30 pm
HIGH at 3:30 Pm
Late drop off leading to much lower levels ENDING ON FRIDAY