Wednesday, July 24, 2024

ES Morning Update October 2nd 2018

Yesterday was the first sign of weakness I've seen in awhile. But if you wasn't watching the tape all day and only seen the close you would have missed it as the market did close on both the DOW and the SPX. But the Russell is looking ugly and Nasdaq isn't quite far behind. This is a clear sign of a topping process taking place right now. Today and tomorrow should be the last chance to average into shorts before a much larger drop starts. I'm not sure if we'll put in the high today or tomorrow? But after Wednesday I think we'll start seeing the downside action pick up and getting short in the 2900's on the SPX will be a thing of the past.

I'll be playing it by ear of course to see where the best entry short is at, because is might show up today instead of Wednesday, but considering how many weeks in the past we've seen tops (or bottoms) put in on Wednesday I have to root for that to be the case again. We'll see I guess. For the short term we are showing some early weakness in the futures and the SPY has a gap that "almost" got filled yesterday. So it's possible we drop down early in the morning session today to fill it and then turn back up into the close and/or Wednesday for that final high.

Keep your eyes on the DOW today and tomorrow as "codes" might just appear? I know that yesterday right at 4pm (EST) the DOW tagged 26,666 but after it settled out the final close was 26,651... a "coded message" for those watching closely? It could happen again today, and tomorrow we might just see the power of the number "7" show up... like another all high of 26,777? You never know for sure what the elite have planned.

Don't forget that we've never seen any code show up yet with the number 7 in it, yet Christine Lagarde spoke about it in a creepy speech she did back in 2011 or 2012 if I recall? Then there was the movie called "Triple 7" about a runaway train, which really happened in real life but the actual number of the real train was the "8888", whereas in this movie is was the "777" train.

All I can say is that "if" this market is going to dump really hard... like in a 1987 style crash, there will be "code" out there to signal it just like the bottom in 2009 was 666 on the SPX. So keep your eye open as I'm just one guy that can't watch every market to catch every code. If you see something weird get a screen shot and let me know. I'm in the free chatroom everyday and I share everything I find with all the members in a hope that we can all work together better as a team and all benefit from it financially. Thanks.

Author: Red

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