Don’t know? But it feels like a “blow off top”. Everyone is way too bullish right now. Monday we should see a pullback start. Whether it’s the start of a large correction or not is yet to be seen. While I missed this top thinking it was going to happen yesterday I’ll ride it out until next week to see if we rollover.
New lows on the NYSE jumped today despite rallies to new highs in some indices. I had a HO observation yesterday or a near one and we should definitely have one today. New highs were barely above yesterday’s as well. The Alibaba IPO has kept the market propped up but it just priced so no more need to hold it up.
Tomorrow is 141 years from a certain Black Friday event but I really don’t see anything like that happening although it could pull the market into a certain direction. 141 does seem to be numerologically appropriate for the times. Curiously, tomorrow is also 1404 weeks 4 days from a certain little market event.
I forgot to mention in my recent NFL notes that Ray Rice #27 is a 1987 baby. Born on 1-22 ie 14 of that year making him 27 years old. A former NFL champion with the BMORE Ravens. His former teammate from that championship squad, another Ray, the MIAMI grad out of the Bradley town of Lakeland Fl., Ray Ray, the Psalms 91 lover, was doing some postgame analysis of the Monday night game for the 4 letter while displaying a triangle with his hands. Sounding very mind-controlled and programmed, he was rambling about how the Colts defense lost sight of the 2 Eagles’ backs and let them run all over them in particular #43. Then he blurted out to the effect that one needs to pay attention to #s43 and 25…43-25—43-25—43 and 25 and on and on and on,blah blah blah…. It was quite a fevered pitch of a performance…..43-25, a numerological combo I had noticed earlier in the game…7-7 or 68…..Noticed the BABA IPO is priced at $68.
Anyway, I liked how his fellow commentators just gave him his space and let him ramble along. Didn’t see any of them flashing triangles with their hands.
This week will be a triple witching options expiration. In the past 22 years, the week after the September triple witch has been down 17 times. Add that up with Yellen ending QE and we “could” see today’s bounce fade out and we roll right back down some over the next few weeks.
Certainly went higher then I expected as I wasn’t looking for a double top… but SkyNet knows where all the stops are and did a good job of hitting them on both sides today. I held on to my short through all the wild swings and ended the day up.
With the daily candle pattern now showing a very long topping tail I’ll be happy to get more shorts should it bounce again in the morning. Odds are tilted in favor of the bears now that we won’t make another higher high tomorrow (based on the bearish candle pattern close), but a second attempt is certainly possible.
Should it not give me the chance to short from some bounce I’ll just be happy with the shorts I currently own. But based on the overbought charts we should be just about ready to start selling off, and it should be for more then one or two days.
Considering the Alibaba IPO is Friday we could get some kind of wave 1 down and 2 up between now and the end of the week so they can get that out of the way before we start dropping. I “may” exit my short tomorrow, wait for the bounce into Friday and short again. Hard too say right now but I feel it’s a “short the bounce” type period and not a “buy the dip” one.
Don’t know? But it feels like a “blow off top”. Everyone is way too bullish right now. Monday we should see a pullback start. Whether it’s the start of a large correction or not is yet to be seen. While I missed this top thinking it was going to happen yesterday I’ll ride it out until next week to see if we rollover.
Time to get out of short or is there still expectation of decline?
New lows on the NYSE jumped today despite rallies to new highs in some indices. I had a HO observation yesterday or a near one and we should definitely have one today. New highs were barely above yesterday’s as well. The Alibaba IPO has kept the market propped up but it just priced so no more need to hold it up.
Tomorrow is 141 years from a certain Black Friday event but I really don’t see anything like that happening although it could pull the market into a certain direction. 141 does seem to be numerologically appropriate for the times. Curiously, tomorrow is also 1404 weeks 4 days from a certain little market event.
I forgot to mention in my recent NFL notes that Ray Rice #27 is a 1987 baby. Born on 1-22 ie 14 of that year making him 27 years old. A former NFL champion with the BMORE Ravens. His former teammate from that championship squad, another Ray, the MIAMI grad out of the Bradley town of Lakeland Fl., Ray Ray, the Psalms 91 lover, was doing some postgame analysis of the Monday night game for the 4 letter while displaying a triangle with his hands. Sounding very mind-controlled and programmed, he was rambling about how the Colts defense lost sight of the 2 Eagles’ backs and let them run all over them in particular #43. Then he blurted out to the effect that one needs to pay attention to #s43 and 25…43-25—43-25—43 and 25 and on and on and on,blah blah blah…. It was quite a fevered pitch of a performance…..43-25, a numerological combo I had noticed earlier in the game…7-7 or 68…..Noticed the BABA IPO is priced at $68.
Anyway, I liked how his fellow commentators just gave him his space and let him ramble along. Didn’t see any of them flashing triangles with their hands.
Thanks for those stat’s… I did not know that.
This week will be a triple witching options expiration. In the past 22 years, the week after the September triple witch has been down 17 times. Add that up with Yellen ending QE and we “could” see today’s bounce fade out and we roll right back down some over the next few weeks.
I still think we rollover first thou… http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=8&mn=0&dy=0&id=p47503103422&a=368057828
I think it’s around 2050-2055 SPX
looks like the sheeple are piling in. what is that equivilent to the S&P?
If we do not rollover today or tomorrow then they will likely breakthrough and head up to my original target of 11,330 on NYA per a FP I have.
Certainly went higher then I expected as I wasn’t looking for a double top… but SkyNet knows where all the stops are and did a good job of hitting them on both sides today. I held on to my short through all the wild swings and ended the day up.
With the daily candle pattern now showing a very long topping tail I’ll be happy to get more shorts should it bounce again in the morning. Odds are tilted in favor of the bears now that we won’t make another higher high tomorrow (based on the bearish candle pattern close), but a second attempt is certainly possible.
Should it not give me the chance to short from some bounce I’ll just be happy with the shorts I currently own. But based on the overbought charts we should be just about ready to start selling off, and it should be for more then one or two days.
Considering the Alibaba IPO is Friday we could get some kind of wave 1 down and 2 up between now and the end of the week so they can get that out of the way before we start dropping. I “may” exit my short tomorrow, wait for the bounce into Friday and short again. Hard too say right now but I feel it’s a “short the bounce” type period and not a “buy the dip” one.