I think people may be surprised at what really happens Monday. The market doesn’t take a huge hit unless it backtests the major trendline that held it.
This week featured an all down weeks with the high of the week made on Monday and the low of the week on Friday. I know of occurrences during the second week of April 2000,second week of October 2008 and flash crash week last year although the Monday of that week was up. The following Monday saw big up days. The week of October 6, 1987 was an all down week and it was followed by a smallish down day with the decent sized trading range similar to today’s action on the next Monday. There then was a big rally on Tuesday.
Today, the NDX finally tested its June March double bottom lows.
The alternative is it just keeps crashing over the next few days which doesn’t fit my timeline but the euro did have a healthy rally today and crude oil recovered nicely so its hard to see the euro rallying furthur.
I am praying for a bounce for a few days since it’s still too early for my timeline although we are in extreme negative territory and approaching the “crash” zone. A certain face of the 4letter sports network was babbling about NFL teams tanking in August, obvious codespeak, a few days ago. Just to now it was stockmarket crash related, he mentioned how 1/8 of the NFL teams or 5 teams (58 crash combo) would be tanking in August for the Andrew Luck sweepstakes next year for the #1 pick. He was babbling about how teams would start off at 1-5 for the number one pick, 115# or 515, or something to that effect and kept on harping about NFL teams tanking in August, which is quite unusual since the NFL season doesn’t start until September.
Then this morning, I caught the morning guy ranking the top three 6 tiers of NFL quarterbacks or 666 and put Kyle Orton #8 in the third tier of 6 with Jay Cutler #6 among others but it seemed to be market unrelated but I will try to remember the other QBs and look for any numerological clues. This was in reference to the Tim Tebow controversy but I don’t remember his number.
I have discovered an astro-match to the 1987 crash that is more inline with the Mas-onic talking head’s predictions for the market. (the bald-headed doofus isn’t the face of the network based on his looks, more likely he is the most anointed of the talking heads there)
Bearish Engulfing BIDU: http://niftychartsandpatterns.blogspot.com/2011/08/bearish-engulfing-of-baidu.html
NFLX Weekend update: http://niftychartsandpatterns.blogspot.com/2011/08/nflx-weekend-update.html
If we go the whole weekend without shenanigans, I’ll be happy with the gap down.
Don’t be surprised to see circuit breakers hit.
I think people may be surprised at what really happens Monday. The market doesn’t take a huge hit unless it backtests the major trendline that held it.
Its gonna be ugly Monday, S/P downgrade is here….
SPX Analysis after closing bell: http://niftychartsandpatterns.blogspot.com/2011/08/s-500-analysis-after-closing-bell_06.html
Amazing, golden boy Tebow part of the ritual too. He has a birthday coming up, his 24th.
This week featured an all down weeks with the high of the week made on Monday and the low of the week on Friday. I know of occurrences during the second week of April 2000,second week of October 2008 and flash crash week last year although the Monday of that week was up. The following Monday saw big up days. The week of October 6, 1987 was an all down week and it was followed by a smallish down day with the decent sized trading range similar to today’s action on the next Monday. There then was a big rally on Tuesday.
Today, the NDX finally tested its June March double bottom lows.
The alternative is it just keeps crashing over the next few days which doesn’t fit my timeline but the euro did have a healthy rally today and crude oil recovered nicely so its hard to see the euro rallying furthur.
I am praying for a bounce for a few days since it’s still too early for my timeline although we are in extreme negative territory and approaching the “crash” zone. A certain face of the 4letter sports network was babbling about NFL teams tanking in August, obvious codespeak, a few days ago. Just to now it was stockmarket crash related, he mentioned how 1/8 of the NFL teams or 5 teams (58 crash combo) would be tanking in August for the Andrew Luck sweepstakes next year for the #1 pick. He was babbling about how teams would start off at 1-5 for the number one pick, 115# or 515, or something to that effect and kept on harping about NFL teams tanking in August, which is quite unusual since the NFL season doesn’t start until September.
Then this morning, I caught the morning guy ranking the top three 6 tiers of NFL quarterbacks or 666 and put Kyle Orton #8 in the third tier of 6 with Jay Cutler #6 among others but it seemed to be market unrelated but I will try to remember the other QBs and look for any numerological clues. This was in reference to the Tim Tebow controversy but I don’t remember his number.
I have discovered an astro-match to the 1987 crash that is more inline with the Mas-onic talking head’s predictions for the market. (the bald-headed doofus isn’t the face of the network based on his looks, more likely he is the most anointed of the talking heads there)