On the upside I’m looking for around 11,330 on the NYA (per a FP emailed to me) for a final top with September 4th being the ideal date. This “should” be the top of all the indexes and we should then start down and continue the rest of the year.
Somewhere between 2005-2010 this week is about the area I expect all bears to cave in and go long. At that point I’d look to short it for a 20-30 point pullback. It could fool all of us that are expecting a light volume melt up because of the holiday (Labor Day) weekend. Meaning it could happen today, Wednesday or Thursday… then down into Friday.
Then up next week into September 4th where a big decision will be made that will determine the fate of the market. My guess is that we’ll tank after the 4th as the market won’t be happy with that decision (which I’m sure has already been made as all stock market crashes and rallies are planned well in advance).
The Rams Browns game was played in Cleveland not the STL but my numey post reads better as if it had been played there so just assume that it was. It turns out that hit knocked out Sam Bradford #8, the fragile STL QB, with the 11-8-1987 birthday, for the season. It wasn’t much of a hit but he is done for the season. An analysis of the hits shows that Browns DE #95 hit Bradford #8 with Rams #77 in the picture to the left with apparently #77 being beaten by #95. Very similar to the MNF hit that knocked out Dallas’ #9 back on 10-25-2010, in the game that saw both teams #88s score 5 times…ie5x88. The Giants’ #95 produced the hit in that game.
Trolls on the internet are calling for the Rams to trade for Washington’s #12 COUSINS, the Skins’ backup who is creating a QB controversy in the nation’s capital as he tries to unseat RGIII..973.#10—a little 10-12 controversy.
Thanks. Nice to see Ron Walker is still around.
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The 1900 threshold will be key this autumn. A break of that..and the series of higher lows..will be broken.
I was actually surprised today the upper bollinger on the weekly cycle did not increase.. but still. its 2020s…thats a clear 1% higher… no point shorting anything yet… and besides, labor day next Monday.
That’s what my source says… they will be caught off guard. My contact says we are going to crash this year and will be heading toward 666 into 2015. My thoughts are simple… once we break the rising trendline of support on the weekly chart from 2011 we drop like a rock!
Based on how quickly the market topped this morning and pulled back sharply I’d say we’ll pop just a little higher Tuesday morning and then down we go. I’m still looking for 20-30 points on the move down and then a rally the rest of the week as we are going into a 3-day holiday weekend.
Next week we “could” see the top (2010-2020), or it could be the 2nd week of September. However, we should top out in this coming month and start the move down into early October for the first wave so we can bounce up into the end of the Legatus meeting (Oct.8th-17th) for the wave 2 up.
That then sets up the market for the “crash” wave 3 down to start in late October and into most of November. Naturally I could be totally wrong on this call as many good traders are calling for 2200+ on the SPX by the end of the year. Maybe they are right and I’m wrong (or my source is wrong?). I don’t know?
For now I’ll just trade it from day to day and look for a short tomorrow “if” we pop higher slightly at the open on Tuesday. If we drop instead and put in that 20-30 points down move at some point tomorrow I’ll look to go long into the rest of this week and into next week. Either way is fine with me as while I’m bearish on the economy I’ll go long the market just like I’ll go short it.
The ECB have a rate decision annnouncement followed by a Press conference on September 4th:
http://www.tradingeconomics.com/calendar?g=world
On the upside I’m looking for around 11,330 on the NYA (per a FP emailed to me) for a final top with September 4th being the ideal date. This “should” be the top of all the indexes and we should then start down and continue the rest of the year.
Somewhere between 2005-2010 this week is about the area I expect all bears to cave in and go long. At that point I’d look to short it for a 20-30 point pullback. It could fool all of us that are expecting a light volume melt up because of the holiday (Labor Day) weekend. Meaning it could happen today, Wednesday or Thursday… then down into Friday.
Then up next week into September 4th where a big decision will be made that will determine the fate of the market. My guess is that we’ll tank after the 4th as the market won’t be happy with that decision (which I’m sure has already been made as all stock market crashes and rallies are planned well in advance).
The Rams Browns game was played in Cleveland not the STL but my numey post reads better as if it had been played there so just assume that it was. It turns out that hit knocked out Sam Bradford #8, the fragile STL QB, with the 11-8-1987 birthday, for the season. It wasn’t much of a hit but he is done for the season. An analysis of the hits shows that Browns DE #95 hit Bradford #8 with Rams #77 in the picture to the left with apparently #77 being beaten by #95. Very similar to the MNF hit that knocked out Dallas’ #9 back on 10-25-2010, in the game that saw both teams #88s score 5 times…ie5x88. The Giants’ #95 produced the hit in that game.
Trolls on the internet are calling for the Rams to trade for Washington’s #12 COUSINS, the Skins’ backup who is creating a QB controversy in the nation’s capital as he tries to unseat RGIII..973.#10—a little 10-12 controversy.
Thanks. Nice to see Ron Walker is still around.
–
The 1900 threshold will be key this autumn. A break of that..and the series of higher lows..will be broken.
I was actually surprised today the upper bollinger on the weekly cycle did not increase.. but still. its 2020s…thats a clear 1% higher… no point shorting anything yet… and besides, labor day next Monday.
When this weekly rising wedge breaks it’s going to fall off a cliff: http://stockcharts.com/public/1092905/chartbook/312846787
What rising support?
What level will that be end Oct?
That’s what my source says… they will be caught off guard. My contact says we are going to crash this year and will be heading toward 666 into 2015. My thoughts are simple… once we break the rising trendline of support on the weekly chart from 2011 we drop like a rock!
hey Red. Upper bol’ on the weekly must surely be hit in the current multi-week up wave..currently @ 2020s.
Given another 2-3 weeks, should have fair chance of 2030/50 zone.
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Carboni.. and a fair number of others now calling for ‘new bull market’, with sp’2100s by year end.
Are they all about to get caught out, whilst the surviving doomer bears capture some autumnal carnage?
Based on how quickly the market topped this morning and pulled back sharply I’d say we’ll pop just a little higher Tuesday morning and then down we go. I’m still looking for 20-30 points on the move down and then a rally the rest of the week as we are going into a 3-day holiday weekend.
Next week we “could” see the top (2010-2020), or it could be the 2nd week of September. However, we should top out in this coming month and start the move down into early October for the first wave so we can bounce up into the end of the Legatus meeting (Oct.8th-17th) for the wave 2 up.
That then sets up the market for the “crash” wave 3 down to start in late October and into most of November. Naturally I could be totally wrong on this call as many good traders are calling for 2200+ on the SPX by the end of the year. Maybe they are right and I’m wrong (or my source is wrong?). I don’t know?
For now I’ll just trade it from day to day and look for a short tomorrow “if” we pop higher slightly at the open on Tuesday. If we drop instead and put in that 20-30 points down move at some point tomorrow I’ll look to go long into the rest of this week and into next week. Either way is fine with me as while I’m bearish on the economy I’ll go long the market just like I’ll go short it.