It is very, very important for anyone interesting in an extreme HOT pick that is coming out tomorrow a 9:30am you should email me tonight. I will not be listing this in the newsletter.
The retail ETFs making new multi-week lows today with both XRT and RTH dropping below their bollinger bands. Quite remarkeable considering retail seemed to be the strongest sector during this Fed sponsored levitation. XRT has been getting hammered harder recently but I don’t understand the difference between the 2.
Meanwhile, if we’re following an analog from a certain historical epoch in the markets, the indicies should be down decently (under 2%) tomorrow. That is if we go from the Dow high since only the Dow and the New York Stock composite existed back then (maybe the SP).
Interesting that the markets topped out on the final day of the year, 41 years ago.
The full moon acted as an evening star last night rising just around dusk and it stayed below Jupiter all night long. The night before the two were right next to each other all night. I have a very limited understanding of celestial mechanics so I don’t really understand the significance of this.
And to match the weather reporting over at D.E.’s, it’s been quite nice around here lately: 87 * two days ago, 84 yesterday, and today only 76 degrees. A nice respite from the harsh winter conditions. And a dry warmth so it doesn’t even seem hot. Stays warm at night too. I feel like driving out to Palm Springs like Richard Gere circa 1979.
If I were to guess I’d say we have a short term top in from yesterday. I believe today we’ll go up to around even at the close and then drop tomorrow in a smaller wave C (or 3?). I think they want to pin the SPY tomorrow around the 183.50 zone.
I’d exit all longs prior to then as we are quite overbought on the short term charts now. With him speaking today (especially at the time he’s speaking) I’d be cautious here and go to cash. However, I still think the overall trend is still up until the 28th/29th and/or the Legatus meeting.
The target upside is still around 17,000 on the DOW (+/- 100 points) and around 1940 SPX (+/- 20 points). I don’t know which time period will be the top and therefore the turn, but I’m leaning more toward the Legatus meeting period then the FOMC meeting.
Check out the sky tonight especially at dusk. The full moon conjunct Jupiter. (and Sirius although Sirius is below the two and the elliptic.) Also next to the constellation Orion (Osiris, Rooster(Cogburn)) and its 3 Kings which are prominently displayed in the winter’s night sky. On the opposite end of the spectrum, Quetzi should now be rising as a morning star although I don’t bother to get up that early to confirm it. And the loose Cardinal grand cross continuing.
We might need to wait for some type of Pentecost before the celebration ensues. But Mardi Gras is lining up just right for the Pentecost. But I don’t see a 25 or 24 there.(Actually there is a 44 though) A PI maybe.
I’ll just concentrate on the 16th president then I guess in the meantime.
FORD Resistance levels: http://niftychartsandpatterns.blogspot.in/2014/01/ford-resistance-levels.html
Facebook chart analysis: http://niftychartsandpatterns.blogspot.in/2014/01/facebook-analysis-after-closing-bell_17.html
It is very, very important for anyone interesting in an extreme HOT pick that is coming out tomorrow a 9:30am you should email me tonight. I will not be listing this in the newsletter.
The retail ETFs making new multi-week lows today with both XRT and RTH dropping below their bollinger bands. Quite remarkeable considering retail seemed to be the strongest sector during this Fed sponsored levitation. XRT has been getting hammered harder recently but I don’t understand the difference between the 2.
Meanwhile, if we’re following an analog from a certain historical epoch in the markets, the indicies should be down decently (under 2%) tomorrow. That is if we go from the Dow high since only the Dow and the New York Stock composite existed back then (maybe the SP).
Interesting that the markets topped out on the final day of the year, 41 years ago.
The full moon acted as an evening star last night rising just around dusk and it stayed below Jupiter all night long. The night before the two were right next to each other all night. I have a very limited understanding of celestial mechanics so I don’t really understand the significance of this.
And to match the weather reporting over at D.E.’s, it’s been quite nice around here lately: 87 * two days ago, 84 yesterday, and today only 76 degrees. A nice respite from the harsh winter conditions. And a dry warmth so it doesn’t even seem hot. Stays warm at night too. I feel like driving out to Palm Springs like Richard Gere circa 1979.
If I were to guess I’d say we have a short term top in from yesterday. I believe today we’ll go up to around even at the close and then drop tomorrow in a smaller wave C (or 3?). I think they want to pin the SPY tomorrow around the 183.50 zone.
EURUSD Chart analysis: http://niftychartsandpatterns.blogspot.in/2014/01/eurusd-chart-update_16.html
Bernanke Speaks today at 11:10 am EST, which is odd I think. Some how I bet he speaks a minute later. http://online.barrons.com/mdc/public/page/9_3063-economicCalendar.html
I’d exit all longs prior to then as we are quite overbought on the short term charts now. With him speaking today (especially at the time he’s speaking) I’d be cautious here and go to cash. However, I still think the overall trend is still up until the 28th/29th and/or the Legatus meeting.
The target upside is still around 17,000 on the DOW (+/- 100 points) and around 1940 SPX (+/- 20 points). I don’t know which time period will be the top and therefore the turn, but I’m leaning more toward the Legatus meeting period then the FOMC meeting.
Check out the sky tonight especially at dusk. The full moon conjunct Jupiter. (and Sirius although Sirius is below the two and the elliptic.) Also next to the constellation Orion (Osiris, Rooster(Cogburn)) and its 3 Kings which are prominently displayed in the winter’s night sky. On the opposite end of the spectrum, Quetzi should now be rising as a morning star although I don’t bother to get up that early to confirm it. And the loose Cardinal grand cross continuing.
We might need to wait for some type of Pentecost before the celebration ensues. But Mardi Gras is lining up just right for the Pentecost. But I don’t see a 25 or 24 there.(Actually there is a 44 though) A PI maybe.
I’ll just concentrate on the 16th president then I guess in the meantime.
Ford Motors chart analysis: http://niftychartsandpatterns.blogspot.in/2014/01/ford-motors-support-and-resistance.html