We are in the zone that I think we’ll end this rally up and have a small 2-4% correction. But to confirm this we need to drop back today and put in a topping tail on the daily candle. Considering that it’s Friday there’s a pretty good chance that it will happen as traders simply take profits before the close.
Again, it doesn’t have to be a down day but simply a day with a topping tail is what I’d like to see. Just close the market 1-2 points up or down and I’d say we will then have good odds that the high is in for awhile.
The topping pattern matches the patterns from the tops of 2000 and the lesser grand ritual. Going forward the numerology towards a date dear to my heart fits the grand theme and one of many pentecosts to come going forward. Tomorrow is 6-6-14 or 125 or 26 or 611 so maybe something happens but Apple might continue to levitate until it splits on Monday although it did have a topping candle today. The EU monetary easing today also might be ringing a bell for the top. The French Open timeline from Our Kind of Traitor would indicate dislocation wouldn’t arrive until next week. The major coporate meeting took place on 6-10 in the novella (Wednesday of the week).
And the book does seem to be ritual appropriate and indicating that these are the signs of the times. The 7 Vors did have a large gangland meeting in Sochi in 2000 that set in motion poor old Vor Dima’s fate.. (27 or 72) In that meeting, the Kremlin became the overlord for the Vory which was totally abhorrent to the ideals of the old Vory.
After this coming correction Ben I do suspect we’ll climb back up in front of the July 4th holiday and probably a week or two afterwards. My suspected top date is July 16th, but that’s not written in stone of course.
The move up from this coming pullback could either make a lower high (which would mean we go closer to that 4% pullback) or make a higher high (which means we might only get a 2% correction now), which very well should clear that 2000 SPX mark.
On the short term I’d expect tomorrow to gap up from the non-farm payroll report (or any news they deem positive) and then drop back into the close leaving a topping tail on the daily candle.
We don’t have to put in a big down down as I’d actually expect it to close either slightly positive, flat or slightly down… but well off the high for the day. As long as we get that topping tail we should start heading down next week.
Keep in mind that the bottom is usually put in the Thursday or Friday the week prior to options expiration week. That’s next Thursday and Friday, so that’s when I think we’ll bottom for the first leg down of this sell off.
Then we should rally some the week of opx and then make one more move lower the week after. That would be the ideal pattern (of course nothing ever plays out perfectly… LOL), which would then form a nice ABC pattern down and allow for the 4th of July rally to start in the last week of June.
thank RD.-at spx 1940 now..we have hit your upside targets give or take. we’ll find out if this is an interim top very soon now….by monday or tues at the latest i would think.- if it is, i’d have to think we’ll get well south of spx 1900 and keep heading south.- of course if we don’t do that..spx 2000 is looming large and magnetically just above us.-should be interesting..thanks again.
I had given up on this move up we are having now as I was expecting it to happen in the morning session. It should be the “stop clearing out” move that I previously was expecting and with that said the highest I could see it go it that 1945-1950 SPX area.
However, it could end lower then that. It really depends on the close today. If we fall back and put in a decent topping tail then I’d say it’s done today at whatever level we hit a high today. If it closes near the top then we should have a brief follow through tomorrow morning to hit that target zone.
This was a tough one that fooled me. I really wanted to short the 1945-1950 area but when it didn’t happen in the morning I thought it wasn’t going to happen. Regardless, after it hits (or not?) I’m looking for a move down to start with the gap fill level of 190.29 SPY being the first downside target.
Glad to see you stop by Jesterx. Yeah, it’s pretty dead out there on the “Bear Blog” world. But I think things are going to start heating up for them here soon.
I think we’re done on the upside Ben. I don’t see us getting up to that 1945-1950 SPX area now. It looks too weak and today should have been the day to do it. I’m now in short and will ride it up to there if need be but right now I see nothing else coming (news wise) that could get that kind of move up.
The ECB cut interest rates today and that should have fueled the market higher. It moved it up a little but not as much as I’d like to have seen. So without anymore big news events I don’t see much chance of another move up. But do note that I’m only looking for a 2-4% correction here.
I think this is all we are going to get on the upside for awhile. I’m taking a short position today and will ride out the move up another 10 points or so if it happens. Good Luck Bears….
With a chart like this I just can’t think we have much more upside left… http://stockcharts.com/h-sc/ui?s=$SPX:$VIX&p=W&yr=15&mn=0&dy=0&id=p73796657589&a=325554048
We are in the zone that I think we’ll end this rally up and have a small 2-4% correction. But to confirm this we need to drop back today and put in a topping tail on the daily candle. Considering that it’s Friday there’s a pretty good chance that it will happen as traders simply take profits before the close.
Again, it doesn’t have to be a down day but simply a day with a topping tail is what I’d like to see. Just close the market 1-2 points up or down and I’d say we will then have good odds that the high is in for awhile.
The topping pattern matches the patterns from the tops of 2000 and the lesser grand ritual. Going forward the numerology towards a date dear to my heart fits the grand theme and one of many pentecosts to come going forward. Tomorrow is 6-6-14 or 125 or 26 or 611 so maybe something happens but Apple might continue to levitate until it splits on Monday although it did have a topping candle today. The EU monetary easing today also might be ringing a bell for the top. The French Open timeline from Our Kind of Traitor would indicate dislocation wouldn’t arrive until next week. The major coporate meeting took place on 6-10 in the novella (Wednesday of the week).
And the book does seem to be ritual appropriate and indicating that these are the signs of the times. The 7 Vors did have a large gangland meeting in Sochi in 2000 that set in motion poor old Vor Dima’s fate.. (27 or 72) In that meeting, the Kremlin became the overlord for the Vory which was totally abhorrent to the ideals of the old Vory.
After this coming correction Ben I do suspect we’ll climb back up in front of the July 4th holiday and probably a week or two afterwards. My suspected top date is July 16th, but that’s not written in stone of course.
The move up from this coming pullback could either make a lower high (which would mean we go closer to that 4% pullback) or make a higher high (which means we might only get a 2% correction now), which very well should clear that 2000 SPX mark.
On the short term I’d expect tomorrow to gap up from the non-farm payroll report (or any news they deem positive) and then drop back into the close leaving a topping tail on the daily candle.
We don’t have to put in a big down down as I’d actually expect it to close either slightly positive, flat or slightly down… but well off the high for the day. As long as we get that topping tail we should start heading down next week.
Keep in mind that the bottom is usually put in the Thursday or Friday the week prior to options expiration week. That’s next Thursday and Friday, so that’s when I think we’ll bottom for the first leg down of this sell off.
Then we should rally some the week of opx and then make one more move lower the week after. That would be the ideal pattern (of course nothing ever plays out perfectly… LOL), which would then form a nice ABC pattern down and allow for the 4th of July rally to start in the last week of June.
thank RD.-at spx 1940 now..we have hit your upside targets give or take. we’ll find out if this is an interim top very soon now….by monday or tues at the latest i would think.- if it is, i’d have to think we’ll get well south of spx 1900 and keep heading south.- of course if we don’t do that..spx 2000 is looming large and magnetically just above us.-should be interesting..thanks again.
I had given up on this move up we are having now as I was expecting it to happen in the morning session. It should be the “stop clearing out” move that I previously was expecting and with that said the highest I could see it go it that 1945-1950 SPX area.
However, it could end lower then that. It really depends on the close today. If we fall back and put in a decent topping tail then I’d say it’s done today at whatever level we hit a high today. If it closes near the top then we should have a brief follow through tomorrow morning to hit that target zone.
This was a tough one that fooled me. I really wanted to short the 1945-1950 area but when it didn’t happen in the morning I thought it wasn’t going to happen. Regardless, after it hits (or not?) I’m looking for a move down to start with the gap fill level of 190.29 SPY being the first downside target.
Glad to see you stop by Jesterx. Yeah, it’s pretty dead out there on the “Bear Blog” world. But I think things are going to start heating up for them here soon.
I think we’re done on the upside Ben. I don’t see us getting up to that 1945-1950 SPX area now. It looks too weak and today should have been the day to do it. I’m now in short and will ride it up to there if need be but right now I see nothing else coming (news wise) that could get that kind of move up.
The ECB cut interest rates today and that should have fueled the market higher. It moved it up a little but not as much as I’d like to have seen. So without anymore big news events I don’t see much chance of another move up. But do note that I’m only looking for a 2-4% correction here.
I think this is all we are going to get on the upside for awhile. I’m taking a short position today and will ride out the move up another 10 points or so if it happens. Good Luck Bears….
Great video mate.
i also try to look at the sentiment trader daily analysis here -> http://bit.ly/1fMcakI
Their calls in the current BULL MARKET have been insanely GOOD!
It makes trading this god damn MANIPULARTED market alot easier