We had a "pause day" yesterday as the market held the support line. We have the CPI today, so we could get a bounce if it's a good report. But I doubt if it lasts as there are a ton of trapped bulls in the market right now and the line in the sand for them is that support zone that we have stopped at yesterday.
If it breaks we could drop quite hard and fast several hundred points to one of the zones I talked about yesterday. Normally these levels hold and we bottom but the expected bottom isn't until the 14th, maybe the 17th. Then a bounce is expected before another drop into a low around the 25th, which could be a higher low or a lower low... I just don't know? If we take out the current support and drop hard into this Friday (or Monday) I'll have to think that the bounce and move down into the 25th will be a higher low. But it's too early to know that right now. Let's just see what happens after the CPI today, and more importantly, the close.
Have a blessed day.
The last two day candlestick pattern was seen in early April 2000 before a…..
Also a little similar to the chart pattern seen on October 2, 1929.
A certain little indicator is far from oversold and might not even get to max oversold by Friday but it might need not to since this should only be a first move down.
Tomorrow will be 55yars 7 months 16(7) days from a certain 77 date in 1969 which works as 55 5(7+7). 2902 weeks 6days. And it’s a 13th day.
I see the SP 500 stuck at 5600.6. Tomorrow will be 5426 days from the 5-6-2010 flash crash. That 426 number always interests me. 5-6-2010 was 426 days from the 3-6-09 major low. And some other planet was in Jupiter’s current location in 2010.