A New High Is Coming, But First Another Wave Down!

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I think we are on our way to the 138.86 FP on SPY from March 12th of this year!

(to watch on youtube: http://www.youtube.com/watch?v=evge9nxoVQk)

But before that happens I expect another wave down. Since we have new FP of 134.46, that was seen by a poster on Cobra's Forum, I'd say we are likely to hit that level Monday morning and then rollover. While there is nothing saying that the FP is a turning point, the charts are very over bought right now and support a move down start as early as Monday.

So, since we are just inches away from it (we had an intraday high of 134.10 on the SPY Friday), it only makes sense that we reach it Monday before rolling over to the downside to reset the overbought short term charts. The move down should be some Fibonacci percentage and make our "B" wave in this ABC pattern up. It's about an 80 point move up on the SPX, so a move back down 40 points to 1300 isn't out of the question.

Regardless of whether it drops to the 38.2% level, 50% or 61.8%, I do not think it's our "Wave 3" down, but instead just a "B" wave inside of "Wave 2" up... which won't be labeled wave 2 once a new high is put in. Then I guess it will be some kind of final 5th wave in Primary Wave 2 up from the March, 2009 low. Whatever it's called, I think it's going to end around our old FP of 138.86 on the SPY.

The Gangsters sure do like to fool the sheep...

I'm not falling for this one again... that's for sure! I've seen them do this many times, and they always end up stealing the bears money. Yeah, it's going to look like "wave 3" down started as the selling could be quite powerful, but I fully expect it to be just another bear trap. They may push it down close to the current low, but I firmly believe it will stay above it and put in a "higher low", allowing for that last "C" wave up to the FP level for a new high. It's looking a lot like 2007 did!

My plan is simple... wait for that newer FP of 134.46 to be hit (probably at the open, or shortly afterwards if it opens slightly down and then pushes back up within the first hour or so), and take a short position for move down early in the week to at least the 38.2% Fib level. Then at some point I'll look to go long for the final move up to 138.86 or so.

I'm not in any hurry to go long, as they will likely go further down then just the 38.2% Fib level... mainly because they need to shake out some new bulls, and get some more bears onboard. We could bounce around the 1320 spx area (it's the downward sloping trendline that they just broke through on Friday), as that would be a backtest of what is now support. But, I'm not too excited about jumping on the bull train there, as it's weak support in my opinion.

There is a stronger support level around the 1300 area, which is where I think this market is headed too next week. Then the following week is options expiration, which is usually bullish. They like to get everyone on the short side the week prior to it (this week) and then squeeze the week of OPX, so all those newly purchased puts expire worthless. Just the evil game they play to steal your money... don't fall for it!

The week after OPX is usually when you'll see the market turn back down again. While that doesn't have too be a big turn, I've noticed that it does happen quite often. This leads me to believe that will we hit our FP target new high the week of OPX or early the week after. That 25th-27th period of most months is a common Gann turndate too, so I think we're on schedule to peak by then.

And on the Dark Side...

Not much going on that I can find on the Illuminati rituals for next week, but here's an interesting video by Phil Schneider in 1995.  He was killed 6 months later by the Illuminati gangters, but it's still new to lots of people... including myself.

(to watch on youtube: http://www.youtube.com/watch?v=FeF8z8UmZpc&feature=related)

Red

1309 COMMENTS

    • The false flag will likely be something that kills people, not just a financial meltdown.  Besides, war is scheduled for this October, and the Legatus meeting ends October 23rd.  That’s about when I’m expecting a false flag to happen.

      • Oh, for the next 18 months, pretty much everything that happens will be hazardous to your health. This is going to be a very eventful time, that’s for sure.

  1. lovin the stuff here lately. 

    spot on love your analysis.The guy from http://www.forecastfortomorrow.com/trading-club stated today taht we are at some critical resistance points and posted a chart of the trannies, hmmm intersting. His stuff is killer.Can see a case for both sides, but I am more wondering if they have a plan for screwing the bulls partying here. Hmmmm. Greece is not the only one in trouble. 

    • Yes, his stuff might be a killer, but one report in nearly seven months is not exactly going to set any trader’s hair on fire, is it?

      I’m guessing most people on this blog already have the big picture….

  2. Well, I’m surprise they haven’t pushed up to the 134.46 FP, but the day isn’t over yet.  Expect a light volume day today gang, as all the wallstreet gangsters are still a little hung over from parties at the Hampton’s over the weekend.

  3. Crude oil Bullish price action: http://niftychartsandpatterns.blogspot.com/2011/07/bullish-price-action-crude-oil.html

  4. For 24 months straight, there has been a close below where the S&P was trading 3 days prior to month-end, in this case 1296, within two trading weeks. It’s 24 for 24. Those kind of odds are rare in the markets. Will the streak end now?

    If the streak continues, the bulls can only guess at how many points they can squeeze out of this
    bounce, while the bears know they can get an easy 44 points. Let’s see how it plays out.

    Meanwhile, some highly unusual huge volume in DRV today towards the close.

    • Ok, so what are you saying basically?  You still think we are going higher, or are you looking for some selling first… as in “an easy 44 points” lower.

      • The market will close beneath 1296 in the next two weeks. That’s where I get 44 easy points. I don’t know how high it goes, I just know I’m guaranteed those gains, so I don’t care how high they take it.

        • Agreed… I’ll be looking to get short tomorrow for a move down to 1300 at least, but probably a whole lot quicker then 2 weeks.  At that point I’ll reassess the charts to see if it looks like just a “B” wave down in an ABC move up, or the start of a larger wave 3 down.  Either way, going short is the right move do execute tomorrow.

  5. Well, l see some early morning weakness but I expect it won’t last long.  I’m waiting until later in the day (close to the last hour) to see where we are… and then I’ll be looking to go short into tomorrow.

          • Also, there were several downward prints and one up print AH in SPY. The upward print was hit right before close of AH trading.

          • ACPZed, i have downside fake prints all the way from last tuesday and i agree the VIX is making its way up along with the dollar. This market should break over the next few days. Again, it may just be a retracement but should break nevertheless!

          • Ditto, I see prints all the way down to 100% retracement, almost exactly. This smacks of a setup.

          • well…another downside fake print early this morning followed by a huge opening gap. For some reason it no longer matters lol… Buffet said this morning on tv “soft patch should be over” …so stock market goes up for a week and half and everything is now good? lol…bogus market

          • Shark… great catch!  Now I know the “TOP” is in!  Soro’s said “we are on the edge of collapse” on June 27th.  Now his reptilian gangster buddy is saying that everything is now fine!  LOL!  Remember to listen for the buzz words of the evil one’s… said Lindsey Williams.  That’s your sign for the top being in.

          • I’ve noticed most downside prints in the AM are filled same day, with the rest filled the day after. I can’t remember seeing any that actually didn’t fill within 48 hours.

  6. SPY chart with a possible island reversal pattern: http://niftychartsandpatterns.blogspot.com/2011/07/island-reversal-pattern-spy.html

  7. These politicians in our government have got to be absolute morons,… If you want to spur job growth in  the US, the main way to do that is to import tax the sh1t out of companies that are producing products of signifigance overseas. In addition, you offer tax breaks to those companies who are building things HERE. Make it more advantageous for them to build things HERE. Honda motor company did just that. The federal government told them that they were going to tax the crap out of their products they were sending to the number 1 consumer market (at the time) and that they would receive a tax break by producing cars in Ohio. And they did it.

    Our government is a joke,… all these officials care about is votes. None of them are “problem solvers” because if they tried something and it didn’t work they would lose votes, so they just keep kickin’ the can down the road.

  8. Just a cheap way to kill oil & silver. Dow down 1%, crude down 3%. A few more of these days and the Dow will be down 3% and crude will be down almost 10%. All in the Madman Manipulation Plan, Section V, Paragraph 6.

  9. LOL! Back to the “building roads” plan AGAIN… They have no bullets left and no ideas on the horizon. Sad for America.

  10. They come in to my house and poison my children. They circle my house at night and stare with red eyes and send thoughts to my head like darts. They burn fires in the hills and shout, run around naked.  Every phone call is monitored with a “click” on the other end. They hang dogs, children on the lamp posts.

  11. So the bogus ADP number was more effective in pushing the market up than the govt numbers pushing the market down. Wow, no manipulation here.

      • No doubt. Will this be another false flag weekend, selloff Monday, Tuesday, Wednesday and Thursday/Friday miracle rally PUMP??? Stay tuned…

        So it is just as I suspected…selloff for 2 months on the backs of 401k dependent employees and use the money made from that, in addition to the 1 POMO a week and VOILA! Another 6 months of manipulation! Actually, since interest reinvestment POMO will go on until the ponzi ends, another ______ years of manipulation!

  12. Today is the one year anniversary of LeBron’s DECISION.   7-8 of course.    CBS Sports with an article focusing on SMU football receiving the death penalty in 1987 over on its front page currently while the 4 letter apparently did a rehash of the 1987 NBA draft.  (which saw Armen Gilliam who died this week go as the second pick)

    Yesterday, the Nasdaq had a huge exhaustion gap bar similar to its May 31st bar while RTH had an even more ridiculous gap up bar.   The indices put in a final hook, hockey stick pattern (seen on the 60 min charts) to complete the larger hook, hockey stick pattern seen over the last few weeks.

    The euro dropped to new lows today after performing a bearish TD flip a few days ago that saw it drop back below its 50 day average although they spike it at the US open today.

    In 2008, commodities put in a secondary top on the 2nd Friday of July (to the top earlier in the month alothough some commodities, mostly the grains had topped out earlier in the year).   They then dropped everyday the next week.   In fact, they put in a lower high than the previous day’s high similar to today’s action.(as measured by DBC)    Today crude oil sold off decently while other commodities held up better.  They put in a flat V shape pattern similar to the flat pattern seen in the indices over the last few weeks.  Commodities on the 3year cycle now aligning with the 60 year cycle.

    The usual leaders, financials,semiconductors, and transports with decent downs and financials dropped back below their 50 day average.

    Yesterday, the $vix had a fat hollow red reversal bar and did not make a new low while all of the stock indices did see a new high.   Bonds also diverged.   TLT up big today despite the big hockey stick save seen in QQQ on the 60 min chart after today’s early day lows.

    Yesterday, 7-7 was 66 days from the 5-2 high and 177 days from 1-11 and 666 days from 9-9-9.  It was also 19years2months9days from 4-29-92 day of infamy event or 7008 days later.  19years2months12 days from Bradley’s date, 4-26-92.  7-6 was 426 days from the flash crash (which was 426 days from 3-6-9) and today is 122 weeks from the 3-6-9 low or 427×2 days later.(see 127 Hours for a discussion of these numbers).

    • Actually DBC topped on Friday July 11,2008 and then had a lower high the next day,Monday July 14 which was a slightly up day  (July 11 was fat black bar day).   Then there was a selloff for the rest of the week.

  13. Here is one eye opener, total importer nations and total exporter nations.
    The Entire rest of the World Combined Total
    Of the Exporters is $1,356B

    Keep this number in mind when you here QE numbers like $1200B handed to bankers/brokers, who, instead of making loans to people and businesses,  then loaned it back to the government so the taxpayers could pay interest on money that was originally stolen from them anyway.

    http://oahutrading.blogspot.com/

    • I remember that from a long time ago… and then they lock Martha Stewart in jail for selling 4,000 shares of a company called ImClone ahead of a FDA ruling…

      http://money.cnn.com/2004/07/16/news/newsmakers/martha_sentencing/

      What bullshit!  Hillary absolutely did insider trading and gets nothing… while Martha gets jail time for questionable knowledge at best.  Whether she was told to sell or not isn’t important to me, as anyone could simply make that decision to sell in front of an FDA ruling.  That’s common in stocks relating to heathcare… just like selling before earnings.  What a crock of $h*t!

      • That sucks. You’re either in the right crowd or you’re not. Unfortunately, they are sending their assassins after me and I’m afraid I don’t have much longer to live, but I’ve backed up all my screen shots and sent it to some people so the evidence will never die.

        • What do you mean?  Did the trolls take your site down again?  Bastards!  They tried that will me, when they did a massive dns attack on the old blog theme, which is why I was forced to put up this new one.  It’s easier to attack you, as they control blogger.com (your blogspot.com site), whereas I own my domain name.

          • No, I meant I will dead by the end of the year at the hands of assassins from the banks. I see now that this was God’s plan all along, and now the details of my life make sense!

          • Well, I’m not sure I follow you, unless you mean that you are in debt to the banks majorly and the crap hits the fan later this year?  I hope you don’t mean real assassins?

      • The worst thing is, Martha Stewart was not even CHARGED with insider trading. What a perfect mark for an “example”. Everyone knew she was a hard core business woman, a lot of people called her a bitch, and fit the perfect profile for a setup. She was simply convicted for lying to the Feds. Stewart made the mistake of doing what members of the club do for a living…lie.

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