NOTE: IF THE 2100 GAP IS FILLED THEN THE “3 weeks down starting next week” Will Be DELAYED. I will then give that scenario 50/50 odds of starting next week at a “lower high” then the previous 2135 SPX high in May.
If that high is taken out then we are likely going up to 2200 area before topping and rolling over. Everyone MUST BE super bullish for this huge drop to happen. If we get up to that area then I’ll probably then increase the odds to 80/20 for the drop to start. At that point it should be late July or early August.
We all know what “could be” planed for late August. So again, “if” we have a new blow off top then August will be the BIG drop period. It’s all unconfirmed as of today but I want everyone be on the look out for what might happen. Remember, SkyNet is Artificial Intelligence and it knows there are too many bears out right now. It has to put them to sleep before the big drop.
If it’s directed by Quentin Tarantino, then the role of the bears is played by Mickey Rourke who’s always getting the crap kicked out of him. The bull is played by Eva Green who gets pampered and taken care of by her rich husband… who of course hides his real name and is called “The Fed” like some cool mafia godfather.
Perfectly timed news, when all the bears are trapped short! I used too fall for this years ago but I smelled it today and didn’t take any position today. Like I previously said, when this rally ends I see a 3 week decline starting like the July 22nd to August 8th of 2011 period.
Ahh… the market is just like a TV show with typical “perfect timed” scary moments, walk in and catch someone cheating, ..and the winner is (commercial break), slap stick stupid jokes, and of course the brief nudity scenes. Who’s directing this show I wonder… Steven Spielberg, George Lucas, Stanley Kubrick, Robert Zemeckis, or James Cameron? Feels more like a Quentin Tarantino show with all the blood from the bulls recently and bears blood bath Friday.
The market is going up nicely afterhours now from some positive Greece news. This is the final squeeze up I think. If they don’t fill the gap around 2100 area and just run out of steam in the 2080-2090 SPX area then I think it’s a short over the weekend. That “could” be the plan? Something positive about Greece on Friday and then change it back to something negative on Sunday when the market is closed.
However, if the Sunday meeting is canceled and this Friday agreement is the last meeting needed then they will probably turn this rally into a multi-day event to close the 2100 gap and go up even higher into a Tuesday-Thursday top next week. Don’t know which yet? Just have to see what happens Friday first. But this is the bear squeeze I wanted to see happen first before any 3 week drop starts.
I think we will go down first to retest the 1820 SPX prior low and probably bounce there. Don’t know if that will be the end of the first wave or not but it could be… makes sense actually. If it hits by the end of July then we should bounce back up into the middle of August and then we should see the next big wave down into early September. That one should be in the 1700 area on the SPX.
Then we could have some wild up and down moves until the end of September for the wave 4 up and finally a flush down to retest the 2000 and 2007 highs around 1576 SPX area for the final wave 5 down. After that it’s up, up and away the rest of the year. That’s what makes the most sense from a technical point of view.
LOLlololol Your on a roll now Red. Great work.
NOTE: IF THE 2100 GAP IS FILLED THEN THE “3 weeks down starting next week” Will Be DELAYED. I will then give that scenario 50/50 odds of starting next week at a “lower high” then the previous 2135 SPX high in May.
If that high is taken out then we are likely going up to 2200 area before topping and rolling over. Everyone MUST BE super bullish for this huge drop to happen. If we get up to that area then I’ll probably then increase the odds to 80/20 for the drop to start. At that point it should be late July or early August.
We all know what “could be” planed for late August. So again, “if” we have a new blow off top then August will be the BIG drop period. It’s all unconfirmed as of today but I want everyone be on the look out for what might happen. Remember, SkyNet is Artificial Intelligence and it knows there are too many bears out right now. It has to put them to sleep before the big drop.
If it’s directed by Quentin Tarantino, then the role of the bears is played by Mickey Rourke who’s always getting the crap kicked out of him. The bull is played by Eva Green who gets pampered and taken care of by her rich husband… who of course hides his real name and is called “The Fed” like some cool mafia godfather.
Perfectly timed news, when all the bears are trapped short! I used too fall for this years ago but I smelled it today and didn’t take any position today. Like I previously said, when this rally ends I see a 3 week decline starting like the July 22nd to August 8th of 2011 period.
Ahh… the market is just like a TV show with typical “perfect timed” scary moments, walk in and catch someone cheating, ..and the winner is (commercial break), slap stick stupid jokes, and of course the brief nudity scenes. Who’s directing this show I wonder… Steven Spielberg, George Lucas, Stanley Kubrick, Robert Zemeckis, or James Cameron? Feels more like a Quentin Tarantino show with all the blood from the bulls recently and bears blood bath Friday.
The market is going up nicely afterhours now from some positive Greece news. This is the final squeeze up I think. If they don’t fill the gap around 2100 area and just run out of steam in the 2080-2090 SPX area then I think it’s a short over the weekend. That “could” be the plan? Something positive about Greece on Friday and then change it back to something negative on Sunday when the market is closed.
However, if the Sunday meeting is canceled and this Friday agreement is the last meeting needed then they will probably turn this rally into a multi-day event to close the 2100 gap and go up even higher into a Tuesday-Thursday top next week. Don’t know which yet? Just have to see what happens Friday first. But this is the bear squeeze I wanted to see happen first before any 3 week drop starts.
Thats quite a BIG drop.
Either way Monday could be very ugly.
LOL Or, they kick the can down the road again
Greece sets another deadline for this Sunday. http://www.bbc.com/news/world-europe-33437797
Bad results should start the big move down Monday.
I think we will go down first to retest the 1820 SPX prior low and probably bounce there. Don’t know if that will be the end of the first wave or not but it could be… makes sense actually. If it hits by the end of July then we should bounce back up into the middle of August and then we should see the next big wave down into early September. That one should be in the 1700 area on the SPX.
Then we could have some wild up and down moves until the end of September for the wave 4 up and finally a flush down to retest the 2000 and 2007 highs around 1576 SPX area for the final wave 5 down. After that it’s up, up and away the rest of the year. That’s what makes the most sense from a technical point of view.