Thursday, June 13, 2024

Weekend Update…

Monday Update...

No reason to another long post, as nothing much changed today.  As I said in the video's, we are either going up to 112.41 spy or down to 107.12 spy.  It looks like we are going up first.  Once 112.41 is hit, I expect it to pull back from there and head down some into the rest of the week.

We could choppy around that area for awhile, as I'm not expect it to just fall off a cliff... back down to 107.12, as that might takes some time.  It might not happen at all, as I'm not exactly sure on the accuracy of that print?  But regardless of the downside target, the upside one should be hit very soon now... as we are within spitting distance of it.

Red

-----------------------------------------------------------------------------------------------------------------------------

The bulls are back in town!

Yes my dear reader, it looks like the low is in for awhile, as the bulls are back, and they mean business.  Last week I got trick by seeing what I wanted to see... the bearish side.  I was bearish again after the previous Fridays' huge drop on opx week.  Then another small sell off on Wednesday of this week, as Bernanke spooked the market.

It was looking like the bulls were done as they hit the the top trendline of the falling channel since the April highs, and failed again at it.  But on Thursday, the PPT came to the rescue and rallied the market hard on horrible economy data and various earnings reports.

The 1060 level held strong as thousands more lose their jobs and can't find work.  So instead of gapping down on Thursday morning, we gapped up and never looked back.  Go Bulls, you crack head sons of b's....  Manipulation at it's finest!  Clear and simple!  There was absolutely NO reason to go up, and a thousand reason to tank, but the operators do what they do best... steal the little guys money!

It's funny how the previous week I was bullish, and then fell into my own trap on the big sell off days that happened.  It played out exactly as I stated it would during the previous weeks' video's.  But this week I was dead wrong on my bearish view.  I should have given that weekly chart more attention, as it was clearly telling me that the trend is UP now.

I ignored it this weekend, and only focused on the daily, 60 and 15 minute charts... which was a clear mistake, as the weekly keep supporting all those charts, by not allowing them to roll over as I thought they would.  So in the end, even though this Thursday was pure manipulation by the PPT, the weekly chart did support a move up for this week... just not a 300 point, shove it down your throat and make you choke on your shorts kind of move.

However, we must always remember that the market is designed to fool you and steal your money.  It's just a big casino created by the crooks, to rob the little guy.  How else can they keep the world in slavery, but to lie, steal, cheat, arrest, murder, belittle, frame, assassinate, embarrass, etc... you get the picture.

But one day we'll all be gone to that happy place in the sky they call heaven... where we can play funner games like sword fighting with Angels (and Demons too I guess?).  Ahhhh... what fun that will be.  Let's just hope they have some other type of gambling there... maybe Bingo or something?  LOL

Moving on now...

Next week should be interesting as we still have the FP of 112.41 spy (about 1120 spx) which hasn't been filled yet.  Then I seen one on Thursday of this week, showing 107.12 spy... meaning that we will probably go up to the 112.41 print first, and then back down to 107.12 to fill the gap made on Thursday morning of this week.

Will it play out like that?  Who knows, but it seems logical for that to happen.  That doesn't mean we can't go down to 107.12 first and then squeeze on up to 112.41 by the August opx... which is entirely possible.  We all know how they like to run the market high during opx week, so they don't have too pay out on all the shorts in the market.

So, if we fall first, then the buy area should be that gap fill area of 107.12, and then the opx high should then be the 112.41 print.  The weekly chart is pushing up hard now, so we could be going up for several months now, as I stated in my video's from the previous weeks (of course I ignored all that this week... duh).

If that's the case, then the final high should be the DIA 118.16 print... which could be hit in late September, just after the crooks cash there bribery, robbery, payoff, etc... checks through the Vatican banks (the only banks in the world that don't report anything to anyone).

This is during the September 9th-20th annual Pilgrimage of the Legatus Group.  During these events, the thugs that rule the world make decisions on where they plan to take the market next.  The last Pilgrimage was held earlier this year February the 4th-6th... which marked the bottom of a sell off.

What followed was a bear whipping that lasted 3 months.  They must have turned on the money tree after that meeting, at rallied like the sell off never happened.  Of course that event was planned many months in advance, and the bottom was told to everyone with the FP I got back in January, showing 1047 on the spx, when it really closed around 1140 something that day.

That was my first experience with a FP, and when it hit that 1044.50 intraday low on February the 5th, and had a massive reverse (that didn't stop until the April high), I got burnt and lost a bunch of money on that move.  I learned then that the market was 100% controlled, and manipulated to take everyones' money.

Now I pay very close attention to those FP's, and important meetings by the crooks that run the world.  The Illuminati have a public face, and that's when they get together in the Bilderberg group and have meetings.  Policy changes are done there, and decisions are made as to where to take the market next.

The private face of the Illuminati is through the Legatus group, where they poses a good church going people, all getting together to celebrate God... it's all B.S.!  The group is nothing but a place for all the crooks to get together and funnel all the money tell stole through the Vatican, the most corrupt and evil organization on earth.

These are the people that are using "The Book of Dead" to bring forth demons from other dimensions and other times.  Most people (that study that stuff, I don't... but keep my ears open a little), say that these demons are Reptilian Aliens that are in the lower levels of Vatican City.

Well, I don't know about that... but I do know that when the Illuminati get together, either through their more pubic face in the Bilderberg Group, or their less know private face in the Legatus group... the market changes direction!  So, should we continue up until the fall event is over, you can look for a nice crash following it.

However, we have that Yahoo FP of Dow 8300 from a week or two ago (which could be but up to trick the masses, as I'll gotten some feathers ruffled from postings all these FP's lately... meaning that it's Fake FP, put up to deceive us).

And currently, the charts don't support a move down to that area now, as the weekly is pushing up the market pretty hard now.  But, should we take out the 1010 spx low next week, (not likely), or next month, then I'd say we will go to 8300.

The timing of these FP's are always unknown.  We only know that once we are headed in that direction, and get close to that target, look for a reversal when it's hit.  So, for next week I believe we will go down and hit the 107.12 print first and then rally back to 112.41 by August opx.

I'm just guessing of course, as forecasting this market is like trying to pick winning lottery tickets sometimes.  But, the weekly chart says we go up for the next few months.  However, the daily is overbought and should roll over next week... which is the reason I think we go down first and back up into opx week... which is traditionally bullish anyway.

Hope that helps give you a longer term view, as the short term is pretty clouded right now.  Some choppy waters lay ahead I believe.

Good luck to all you bears, and bulls too of course (as we all have to be fed straw from our masters from time to time.  After all, it's better then starving like the bears do).

Red

Red
Author: Red

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Geccko23
Geccko23
13 years ago

Well after flipflopping on a dime last Friday, Jaywiz has changed his outlook for the upcoming week to all bearish so I am not smoldering as much since he had been predicting big updays Tuesday and Wednesday.

Just some notes. Monday is 55 days from May 6 flash crash date. It is also July 26, or 90 degrees from the April 26 turn date. July 23===April 23rd as a closing high?? Next week is also 55 weeks from the July 2009 low. 55 is a Fib number that has a strong influence during crash cycles. Tonight is also the full moon and the first full moon following the solar eclipse/ Puetz signal and this tends to be the time when meltdowns get activated. The June 21 high also occurred on the summer solstice so I doubt that it will be exceeded. Chris Carolan wrote a series of studies on financial panics and they tend to occur following cardinal points (ie changes in the seasons/ summer solstice). July 22 was also the one year anniversay of the massive solar eclipse of economic destruction (Saros 136—136=?)
July 26 is also opening day for the Grand Cardinal Climax as Uranus opposes Saturn which has been noted to put in tops for the market. http://www.apartofny.com
This upcoming week also has a major weekly cycle connected to the most important highs and lows for the past two years.

Red Dragon Leo
13 years ago
Reply to  Geccko23

The biggest problem is that so many people are still bearish, and calling for a crash… which means that it's not going to happen. The weekly chart says we go up for several months, and the news is still bearish, which again tells me we will do the opposite and go up.

Once all the bears are bulls, the top will be in again. Now that doesn't mean we won't pull back to that 107.12 FP, but I don't see us breaking the 1010 low at this point.

I think the Dow 8300 FP is for later this year, or even possibly a “Fake FP”… although I doubt that, as I don't think my little website has drawn enough attention for them to change the way they tell their buddies where they are going to take the market too.

Remember, they have be manipulating this market for decades… long before I caught on to the FP's and started publishing them. They just send their trolls here to let me know they are watching me.

Big deal… I don't have the traffic Tim Knight does, so they shouldn't worry too much about me. I still get the market direction wrong, even with the FP's… so it's not like I figured out their secret system.

They come on here and post crap that too obvious to spot as a troll. Plus, they never have any avatar, and there email address is bogus too. (by the way, you should get any avatar. Don't worry, I know you're not a troll. But you're a regular and should have something to give people an image of you).

So, while all these turn dates and astro patterns spell disaster, I'm not buying it. It's never that easy to predict a crash. The BAM Investors have been dead wrong too, and think they have the money to push this thing higher before they finally tank it.

So, I'm bearish for next week, but after that… I expect a slow grind higher to the final destination of DIA 118.16 by the end of September.

zstock7
13 years ago

I'll be back to watch the rest of the Video. 2 things though. as far as the Gangster references, you left out the Mason's.
No Faux pas or anything like that.
http://zstock7.com/wp-content/uploads/2010/06/f
and secondly, those trolls you keep mentioning…They are GS newbies / interns, sent here by top GS management, to copy your trades.
I have the same trolls at my site.
That's my theory, and I'm sticking too it!

Red Dragon Leo
13 years ago
Reply to  zstock7

The Illuminati are the Mason's. That's one of the organizations they hide in. They date back to the 15th century with the Knight's Templars.

zstock7
13 years ago
Reply to  Red Dragon Leo

oops, I did another faux pas.
Very interesting about these top level meetings, and then the market changes direction.

Red Dragon Leo
13 years ago

Is it just me, or does everyone else have the same problem of the disqus avatar not showing up until I scroll up and down the page for a second?

Plus, I don't like their new update at all. It doesn't even have an “X” to close out the pop up. You have to just click back on the page to make it go away.

Anyway, I know that's off subject, but I'm bored right now.

midasportugal
midasportugal
13 years ago

Red sorry the question, but what is a FP you mention? Thanks.

a aa
13 years ago

Fake print

Sjack123456
Sjack123456
13 years ago

today will be the start of a decline, when the bears turn bullish the game is over, took less than two weeks and the world is good again!!!

Anna
13 years ago
jimhobson
jimhobson
13 years ago
Reply to  Anna

Anna,

With such low volumes and the averages in alignment I do not see how this can reverse this bullish move.

Are you seeing something specific or are you reacting to then fact that a retrace of such a bullish move is in the cards?

Anna
13 years ago
Reply to  jimhobson

oh yeah the high freqency guys can push it both ways, but I am leaning bullish too just looking for those dailies to do some resetting 🙂

jimhobson
jimhobson
13 years ago

Interesting the vix is positive this am at 4.39% which means to me that people are selling into this rise this morning.

i do not think it enough to turn bearish but who knows??

Red Dragon Leo
13 years ago
Reply to  jimhobson

Just remember our upside target… 112.41 spy.

jimhobson
jimhobson
13 years ago

No turn today. I think we head back to test the 1031 area now.

Red Dragon Leo
13 years ago
Reply to  jimhobson

LOL…

I'm sure you meant 1131 Jim. I still say 2009 sometimes too… Ha Ha Ha

jimhobson
jimhobson
13 years ago
Reply to  Red Dragon Leo

Yes you are correct. sorry

IlliniKap
IlliniKap
13 years ago

what just caused the pop?

Apple Al
Apple Al
13 years ago

Current ES Elliott count http://screencast.com/t/NDEzMDUz

jimhobson
jimhobson
13 years ago
Reply to  Apple Al

Question is what is the top of 3 wave or C wave

jimhobson
jimhobson
13 years ago

Update on vix.

Now at 1.5 % positive the selling is turning.

very interesting as i think a far contingent has sold into this pop.

Red Dragon Leo
13 years ago

Well gang…

You will be happy to know that our upside target really is the 112.41 spy FP, as every time I mention it… a troll flags my comment! LOL!

Thanks Mr. Troll for letting me know that the print is accurate. Keep flagging them so I'll know where the market is going next.

jimhobson
jimhobson
13 years ago
Reply to  Red Dragon Leo

Past that point

jimhobson
jimhobson
13 years ago

Looks like we hit a dbl top on minor wave

Red Dragon Leo
13 years ago
Reply to  jimhobson

We're so overbought it isn't even funny anymore… but you know they will keep pushing until the 112.41 print is hit.

Red Dragon Leo
13 years ago

We got a 110.60 FP a little while ago, so we should pull back to there sometime today.

jimhobson
jimhobson
13 years ago

Spx kissing the 200??? will it break??

jimhobson
jimhobson
13 years ago

Are you referring to the dragon fly tail at 12;15?

Red Dragon Leo
13 years ago
Reply to  jimhobson

Yes

jimhobson
jimhobson
13 years ago

fast stoch is screaming. no let up

Red Dragon Leo
13 years ago
Reply to  jimhobson

This rally isn't over until “the fat lady sings”… and that's about 112.41 I'd say. LOL

newbear
newbear
13 years ago
Reply to  Red Dragon Leo

Looks that way red.

zstock7
13 years ago
Reply to  Red Dragon Leo

These white soldier patterns, ( opposite of a falling knife) make it difficult to determine a pullback day.

Red Dragon Leo
13 years ago
Reply to  zstock7

Patterns of candles don't mean squat to the manipulation power behind the scenes.

willthethrill
willthethrill
13 years ago

She may not be singing but she is warming up….. enough that you might better get to your seat anyway b4 the show starts!

Red Dragon Leo
13 years ago
Reply to  willthethrill

LOL

She might have too wait until tomorrow, as I think we will go down to one of the intraday FP's of 110.60 or 110.33 today… then maybe tomorrow back up again?

jimhobson
jimhobson
13 years ago
Reply to  willthethrill

Just a lull

zstock7
13 years ago

I thought QQQQ would be up on Tuesday. My bands are getting stretched to their limit. If not down on Tuesday, then down on WED. QQQQ will fail the stress test, 1 to 2 days out.

Red Dragon Leo
13 years ago
Reply to  zstock7

It still could be an UP day Z…

Red Dragon Leo
13 years ago

There's another print… 110.42 spy

anoopsan
13 years ago

S&P 500 Trading near resistance areas
http://niftychartsandpatterns.blogspot.com/2010

Red Dragon Leo
13 years ago
Reply to  anoopsan

We should pull back into the close today.

jimhobson
jimhobson
13 years ago
Reply to  Red Dragon Leo

Looks like no let up

rodders
rodders
13 years ago
Reply to  anoopsan

$spx closed at that 50% fibo level. Some reistance at this level too.

IlliniKap
IlliniKap
13 years ago

Pathetic volume again today

Red Dragon Leo
13 years ago
Reply to  IlliniKap

Yes… very pathetic.

zstock7
13 years ago
Reply to  Red Dragon Leo

BUCY ( inverse falling knife) is breaking down today. short now 61.5,or at 62.9, decisions, decisions.

jimhobson
jimhobson
13 years ago
Reply to  IlliniKap

Enough to run the prices to mid high.

zstock7
13 years ago

MO 22.25 was it's short sell top ( this Q's target price) …I don't think I can get that entry again.

jimhobson
jimhobson
13 years ago

BB on 15 minute is pinching tight. Which way to break… my bet is a fast climb.

jimhobson
jimhobson
13 years ago

May have to go bull again. probably too late.

IlliniKap
IlliniKap
13 years ago

Gotta hand it to them once again. Great ramp job as always in to the close. Going to make sure we close above the 200 SMA that will bring many long only funds back into the market. Simply amazing. Overbought like a mother, no volume and the pump just continues.

jimhobson
jimhobson
13 years ago
Reply to  IlliniKap

Iam going to have a bad week.

Geccko23
Geccko23
13 years ago

The only positive is that TLT had a hammer bottom there for a little while.

IlliniKap
IlliniKap
13 years ago
Reply to  Geccko23

Also TNX did not budge. You think it would after an almost 1% move up.

Geccko23
Geccko23
13 years ago

Bizarrely low equity put call numbers on ISEE ala April 23 high and around July 14,,, well below the range of the past week.

Red Dragon Leo
13 years ago
Reply to  Geccko23

How do they compare to the April High? Do you have a link showing the numbers?

Geccko23
Geccko23
13 years ago
Reply to  Red Dragon Leo

We've been around 200 the last few days. Today 127. suddenly everyone got bearish up here? Ticker sense poll is 46% bulls 13%bears. In April ISEE was putting up record numbers, consistently above 200 then there was a sharp dropoff on April 22,23. The data is all there at ISEE. Just click on to your link and you can customize the data to your liking.

anoopsan
13 years ago

S&P 500 analysis after closing bell
http://niftychartsandpatterns.blogspot.com/2010

zstock7
13 years ago

This chart is so embarrassing. I have so many short sell area's on RYL. Doesn't fully activate, until 19.8…
http://zstock7.com/wp-content/uploads/2010/07/r

Geccko23
Geccko23
13 years ago

CBOE put call ratio also was high today at .99 but equity put call ratio remained in the range of the past week so a lot of index put buying. Cobra with another WOW moment with extreme intraday cumulative tick.

jimhobson
jimhobson
13 years ago

Whats going on? is the after open lull ?

Looks like a possible retest of 200 so the bulls can load up.

Sir Woody Hackswell
Sir Woody Hackswell
13 years ago

Big dropoff in gold and silver….

Anna
13 years ago
jimhobson
jimhobson
13 years ago
Reply to  Anna

If you are referring to the tail I just do not know if i am a believer. Several of those have gone by the way recently to no effect..
i do believe we are manipulated but I just have a hard time believing they are signals.

Anna
13 years ago
Reply to  jimhobson

I think this one is good 😉

Red Dragon Leo
13 years ago
Reply to  Anna

When did you get that one Anna? That looks like the same target I got of 107.12 last Thursday.

http://reddragonleo.com/wp-content/uploads/2010

Anna
13 years ago
Reply to  Red Dragon Leo

between 8am and 9am this am. the most reliable time!!!

I got X right as rain (short) and COH

jimhobson
jimhobson
13 years ago

Consumer confidence sucked but who cares??

Sir Woody Hackswell
Sir Woody Hackswell
13 years ago

112.41 ~= 112.29. I think we've fulfilled that casper. Now which way do we go, and how low/high?

jimhobson
jimhobson
13 years ago

I have to admit that one played out

Anna
13 years ago

short Gold as much as I can handle

IlliniKap
IlliniKap
13 years ago

Man wish I got some more VXX calls at the HOD today. Already up close to 45%

Red Dragon Leo
13 years ago

Who needs charts anymore? LOL

jimhobson
jimhobson
13 years ago

Ok they sucked in some more bears now its turning.

Red Dragon Leo
13 years ago
Reply to  jimhobson

It may be choppy Jim, but we should be going down to our next target soon. While it's possible that upside print still hasn't been fulfilled, I believe it was.

The 60 minute chart is finally rolling over, and should continue to do so until we reach our downside target.

jimhobson
jimhobson
13 years ago
Reply to  Red Dragon Leo

well your 112.49 target was as close as anyone could call. 107 would need a quick realignment i would think but the last few pushes up didi it on a dime

Red Dragon Leo
13 years ago
Reply to  jimhobson

Yes, that is a big concern Jim. The 66 level on the RSI means we now have a 2/1 buying versus selling ratio… but it could easily fall back down too.

It might not start today, but over the next few days I believe it will head lower. After we hit the downside target though, I think we will continue back up again.

This assumes the weekly chart still puts in a higher low on the histogram bars. If the move down comes with too much volume, it could be a turn down for real.

We still have that 8300 print to fulfill, but when is the question I can't answer. But just looking at the weekly charts, I think we will go up throughout the next few months to the DIA 118.16 print first…. then down in the fall. (All just guessing of course).

zstock7
13 years ago
Reply to  Red Dragon Leo

Iwm hit my 66.9 short sell pullback price, IYR should go down 2 days in a row. Gut feeling, and overnight chart bands stretched to their limit, Looks like Wed, will be down.

anoopsan
13 years ago

NEGATIVE DIVERGENCE IN DOW JONES
http://niftychartsandpatterns.blogspot.com/2010

Anna
13 years ago

I am up huge on my gld trade!!

shaan kapoor
13 years ago
Reply to  Anna

Did you go short at the open or were you already short and adding on the pops today?

Anna
13 years ago
Reply to  shaan kapoor

Went short at open and adding every bounce 🙂

shaan kapoor
13 years ago
Reply to  Anna

Very Nice. Wish i had loaded up more on VXX calls at the ES HOD.

jimhobson
jimhobson
13 years ago
Reply to  Anna

Are you short ??? Are you shorting gld??

shaan kapoor
13 years ago

Just won't stop pumping it

zstock7
13 years ago

Hi Red, good call on SPY 112.4!

Red Dragon Leo
13 years ago
Reply to  zstock7

Pretty amazing sometimes Z…

newbear
newbear
13 years ago
Reply to  Red Dragon Leo

You should keep track of them to see how effective they are and form a trading strategy from it.

Red Dragon Leo
13 years ago
Reply to  newbear

Soon as I do… they'll change the game.

shaan kapoor
13 years ago
Reply to  Red Dragon Leo

Now we have a downside SPY FP of 107.37. Let's see if we get there over the course of this/next week.

zstock7
13 years ago

I posted a couple of days ago, short IYR ( 52.63 high) at 52.5, look for a 2 day pullback..Every so often, I get to within in a dime of the short sell price. Put this one in the every so often files.

Geccko23
Geccko23
13 years ago

A ramp into the close??? Ugly slop all day long.

Red Dragon Leo
13 years ago
Reply to  Geccko23

Well,

You can't exactly expect it to just fall off a cliff, (I wish). They have too have these “pause” days, where we range trade for a few days… then fall off a cliff! LOL

Geccko23
Geccko23
13 years ago
Reply to  Red Dragon Leo

One more day like today (well not really) and we'll repeat the Jan 2009 top pattern which also featured an extremely overbought McClellan Oscillator………………….Maybe this slop is an ending diagonal/ hopefully truncated wave 5

jimhobson
jimhobson
13 years ago

They think this is good for the markets:

About 18.9 million homes in the U.S. stood empty during the second quarter as surging foreclosures helped push ownership to the lowest level in a decade.

The number of vacant properties, including foreclosures, residences for sale and vacation homes, rose from 18.6 million in the year-earlier quarter, the U.S. Census Bureau said in a report today. The ownership rate, meaning households that own their own residence, was 66.9 percent, the lowest since 1999.

Lenders are accelerating foreclosures as borrowers fall behind in mortgage payments after the worst housing crash since the Great Depression. A record 269,962 U.S. homes were seized in the second quarter, according to RealtyTrac Inc. Foreclosures probably will top 1 million this year, the Irvine, California- based data company said in a July 15 report.

Sir Woody Hackswell
Sir Woody Hackswell
13 years ago

SPX close almost exactly ON the 200 MA? wow…

Red Dragon Leo
13 years ago

They have total control Woody. They control the horizontal, they control the vertical, they control everything. LOL

Sir Woody Hackswell
Sir Woody Hackswell
13 years ago
Reply to  Red Dragon Leo

So… up or down from here…. critical juncture, no? Failure to definitively break above 200 MA is bearish. Any failure to go lower is bullish. GAH!

Red Dragon Leo
13 years ago

Possible POP (to hit and even pierce through the 112.41 level), and then drop… that's what I expect tomorrow.

newbear
newbear
13 years ago
Reply to  Red Dragon Leo

YGM

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