I'll make a post later tonight and let you know, but I did go short at 1060 as that is now major resistance. The fact that we didn't close above 1060 should mean that we'll start to pull back tomorrow.
Ok, 1060 at 11:25 Am, and getting close to an astro possible high at 11;38. 1060 is right near the top of the range I posted of 1063 using fibo Expect some sputter from here, and another attempt on the 8th July 8th low to oct8th = 90 days lo to high Friday should be the BEST day for bears hope bears can hold out till then[gg] Jay
I've been a follower of Cobra for quite some time now. His TA work is excellent. I only wish I was that good with TA stuff. I try to mix a little bit of everything in my posts. After all… we are human, and humans aren't really that logical too be predicted with technical annalists only.
I just search the internet sometimes for something that I want and come across other pictures that I like and think might use someday. That was one of those pictures.
then again, a LOW today back at 1020 would tear the bulls apart, but would setup the NEXT leg UP still due to TOP OUT on the 13th at 1063. -maybe higher? Question is HOW do we get there UP-DOWN – UP of course WE got one UP so far, looking for A DOWN Today Jay
Good Morning Red. Very good post! Love that cartoon too. Where do you find these all great pics? 🙂 I like your plan sounds very logical. I just came from reading Bill Cara's Commentary & Community Chat write up. Looks like the both of you can see through this latest rally.
“You know, the Interventionists can only push on a string so much before it snaps. I’m biding my time watching for the break.”
I was off by a day too, as I expected a flat to down day on Monday and then up Tuesday and Wednesday. Now, I'm expecting a flat to slightly up day tomorrow (to conclude the 2 day rally), and then Wednesday should start the selling.
Looks like we are both a little off on the exact date, but as long as we still catch the wave down we should be ok.
I do see a slight up move after we hit 998-1000, so that could be the October 13th top you see? And, I see more downside until the 16th. So, we seem to be in agreement there.
It seems you work is more focused on timing, and mine is more on finding major support/resistance points. Your timing seems correct, but I'm not seeing 1063 on the 13th.
I'll make a post later tonight and let you know, but I did go short at 1060 as that is now major resistance. The fact that we didn't close above 1060 should mean that we'll start to pull back tomorrow.
Any thoughts after market action today
Ok, 1060 at 11:25 Am, and getting close to an astro possible high at 11;38.
1060 is right near the top of the range I posted of 1063 using fibo
Expect some sputter from here, and another attempt on the 8th
July 8th low to oct8th = 90 days lo to high
Friday should be the BEST day for bears
hope bears can hold out till then[gg]
Jay
From the looks of the futures this morning we could get 1060 today?
Thanks nbg….
I've been a follower of Cobra for quite some time now. His TA work is excellent. I only wish I was that good with TA stuff. I try to mix a little bit of everything in my posts. After all… we are human, and humans aren't really that logical too be predicted with technical annalists only.
Thanks Douala…
I just search the internet sometimes for something that I want and come across other pictures that I like and think might use someday. That was one of those pictures.
then again, a LOW today back at 1020 would tear the bulls apart, but would setup the NEXT leg UP still due to TOP OUT on the 13th at 1063. -maybe higher?
Question is HOW do we get there
UP-DOWN – UP of course
WE got one UP so far, looking for A DOWN Today
Jay
does look like a short from 1050 this MORNING after open.
BUT the down move might not last all day??
Some indication the day ends on the bull side
Jay
Good Morning Red. Very good post! Love that cartoon too. Where do you find these all great pics? 🙂 I like your plan sounds very logical. I just came from reading Bill Cara's Commentary & Community Chat write up. Looks like the both of you can see through this latest rally.
“You know, the Interventionists can only push on a string so much before it snaps. I’m biding my time watching for the break.”
http://tinyurl.com/yc7szht
See you on ES my friend.
Jay,
I was off by a day too, as I expected a flat to down day on Monday and then up Tuesday and Wednesday. Now, I'm expecting a flat to slightly up day tomorrow (to conclude the 2 day rally), and then Wednesday should start the selling.
Looks like we are both a little off on the exact date, but as long as we still catch the wave down we should be ok.
I do see a slight up move after we hit 998-1000, so that could be the October 13th top you see? And, I see more downside until the 16th. So, we seem to be in agreement there.
It seems you work is more focused on timing, and mine is more on finding major support/resistance points. Your timing seems correct, but I'm not seeing 1063 on the 13th.
Red