Thanks for the insight Red. bought a small spy position after the close, closes at 4:15, jt in case we don’t bounce. Will add heavily after. Great call months prior. Double ritual day- go figure (22/33)
Agreed… bounces are expected. While no one can guarantee that today was the top and the trend has changed I give it very high odds (considering the ritual’s and Legatus timing)
We should bounce early tomorrow morning… that’s a given, but do understand that these gangsters are tricky and won’t likely give the bull or bears much time to enter or exit any position. That means we could rally in the morning until noon and then sell off the rest of the day and still close in the red.
What I’ve noticed in the past is that the market makers will make the ‘wave 2’ up be an intraday move so it looks like it never happened on the daily chart because it ends half way through the day and the wave 3 down starts the rest of the day.
Then the bears miss the entry to go short at and the bulls miss the exit to get out at… all because they both are expecting a positive close with more upside to happen the next day. But it never happens and the ‘wave 1’ and the ‘wave 3’ seem to look like one big wave down.
They basically merge them to keep either side from knowing what to do! The ‘wave 4’ up is the tricky one where they chop it around for many days before rolling over to complete the ‘wave 5’ down. Looking at the charts right now I don’t see any support until the 1630 spx area and then the gap fill area at 1597… so ‘if’ they bounce tomorrow intraday I’d say the next move down will go to that first support level and hold into Friday.
Average move down is 80-100 points from what I’ve seen in the past. That implies a move down to fill the gap at 1597 spx before a decent bounce. Since it’s likely that we topped today this is a wave 1 down and after it ends we should see a nice wave 2 back up to lure in the bulls and shake out the bears.
These moves usually take 18-20 calendar days but I wouldn’t be surprised if this one didn’t go down a lot faster. Remember that many, many sacred geometry “cycle” waves (dating back to 1897) are all converging in May and pointing down. So the time frame for these moves should shorten I believe.
As for tomorrow, I’d short any bounce back up with 1670 area being about as high as I could see (about 50%), but I don’t know if they will even give the bulls an out like that or the bears a chance to go in short? Hopefully they will for those of you not short.
Thanks for the insight Red. bought a small spy position after the close, closes at 4:15, jt in case we don’t bounce. Will add heavily after. Great call months prior. Double ritual day- go figure (22/33)
Nicely lined up with the Fib’s on that chart there GG (aka DG)…
Agreed… bounces are expected. While no one can guarantee that today was the top and the trend has changed I give it very high odds (considering the ritual’s and Legatus timing)
We should bounce early tomorrow morning… that’s a given, but do understand that these gangsters are tricky and won’t likely give the bull or bears much time to enter or exit any position. That means we could rally in the morning until noon and then sell off the rest of the day and still close in the red.
What I’ve noticed in the past is that the market makers will make the ‘wave 2’ up be an intraday move so it looks like it never happened on the daily chart because it ends half way through the day and the wave 3 down starts the rest of the day.
Then the bears miss the entry to go short at and the bulls miss the exit to get out at… all because they both are expecting a positive close with more upside to happen the next day. But it never happens and the ‘wave 1’ and the ‘wave 3’ seem to look like one big wave down.
They basically merge them to keep either side from knowing what to do! The ‘wave 4’ up is the tricky one where they chop it around for many days before rolling over to complete the ‘wave 5’ down. Looking at the charts right now I don’t see any support until the 1630 spx area and then the gap fill area at 1597… so ‘if’ they bounce tomorrow intraday I’d say the next move down will go to that first support level and hold into Friday.
Every bear abd thier cubs got short today. I’d say it’s unlikely we don’t get a small bounce to scare them out
Average move down is 80-100 points from what I’ve seen in the past. That implies a move down to fill the gap at 1597 spx before a decent bounce. Since it’s likely that we topped today this is a wave 1 down and after it ends we should see a nice wave 2 back up to lure in the bulls and shake out the bears.
These moves usually take 18-20 calendar days but I wouldn’t be surprised if this one didn’t go down a lot faster. Remember that many, many sacred geometry “cycle” waves (dating back to 1897) are all converging in May and pointing down. So the time frame for these moves should shorten I believe.
As for tomorrow, I’d short any bounce back up with 1670 area being about as high as I could see (about 50%), but I don’t know if they will even give the bulls an out like that or the bears a chance to go in short? Hopefully they will for those of you not short.
closed positions. They’re not gong to make it that easy
ps. Love your ritual dates, but I like to back it up with something a little more concrete, like Fibonacci.
a certain blue-chip nameless stock posted..
http://s22.postimg.org/x9t9f7hv5/fibo.png
I think the PIG just rolled over. OINK.
remember, bulls makes money, bears make money – pigs get SLAUGHTERed.
ah well, one day does not make a trend.
if that really was ‘a’ top, I fully expect bounce spikes all the way down.
-DG
SPY Chart analysis: http://niftychartsandpatterns.blogspot.in/2013/05/spy-chart-analysis_23.html