DeMark mentioned in his CNBC interview that the market moves in increments of 5.56%. Twice that or 11.12% is his conservative estimate for his predicted downmove. Today is 556tds from the 11-21-2008 bottom and Friday will be 2-11-11. Friday will also be 156tds from the July low.
From July 2009 low to Jan 2010 high there were 134tds or 67×2. Then from the Jan top to April 26 high there were 67tds, 13tds down followed by a 54td rally……From April 26 high to Nov 5 high there were 136tds and 67tds later should be Friday which should be (2)0(3) tds from April 26high…..15tds down followed by a 52day rally……Feb 11 or 2-11-11 would also be 7months7days from July 4 (I’ll get to that later—July 4,1776 was 234years 7months7days ago). It will also be 7years 7days from Facebook day ie the Social Network founder’s day of revelation on 2-4-2004.
The final updraft into the April 2010 top featured a DeMarkian 10consecutive weeks of closes above the close 4 weeks earlier known as a weekly sell setup but in this case it was recycling previous setups and was really an extension. This week also should be the 10th consecutive week of closes above the close 4 periods earlier. I haven’t mentioned this here but there are all sorts of esoteric cycles for this week. Only caution is next week is opex week and would also be 33weeks from the July low. It’s hard to see a drop during opex week and next week could give a DeMarkian sequential weekly sell signal (actually recycling one that is already in place) if it holds up in this area.
Today is the first day with a daily bar completely above the August 2008 high and if this is a false breakout, the market needs to put a few days above the 8-2008 levels. Currently there are 6 consecutive daily bars above the close 4periods earlier and I expect an extension to occur to at least to a 9 count.
SPY p/e and eps raised due to the fantastic earnings season! i’ve made my adjustments, i’m raising my 2011 target price from 1400, to 1497—sorry folks, I have to trade what’s right in front of me, (always)__
I shorted HOT today! FRY baby FRY…i like my shorts well done….
Does it matter? Just buy the f’n dip!
Hell, looking at the ridiculousness, time to take out a loan and go all out on calls baby! Woo-hoo! Dow 400 points a week or bust!
here’s that qqqq 59.96 FP again. I thought this was going to be irrelevant, 2 weeks ago
http://zstock7.com/wp-content/uploads/2010/09/1-27-qqqq-59-96.jpg
vix fake print 14.86, from a different camera angle.
http://zstock7.com/wp-content/uploads/2010/09/vix-2-8-fp1.jpg
DeMark mentioned in his CNBC interview that the market moves in increments of 5.56%. Twice that or 11.12% is his conservative estimate for his predicted downmove. Today is 556tds from the 11-21-2008 bottom and Friday will be 2-11-11. Friday will also be 156tds from the July low.
From July 2009 low to Jan 2010 high there were 134tds or 67×2. Then from the Jan top to April 26 high there were 67tds, 13tds down followed by a 54td rally……From April 26 high to Nov 5 high there were 136tds and 67tds later should be Friday which should be (2)0(3) tds from April 26high…..15tds down followed by a 52day rally……Feb 11 or 2-11-11 would also be 7months7days from July 4 (I’ll get to that later—July 4,1776 was 234years 7months7days ago). It will also be 7years 7days from Facebook day ie the Social Network founder’s day of revelation on 2-4-2004.
The final updraft into the April 2010 top featured a DeMarkian 10consecutive weeks of closes above the close 4 weeks earlier known as a weekly sell setup but in this case it was recycling previous setups and was really an extension. This week also should be the 10th consecutive week of closes above the close 4 periods earlier. I haven’t mentioned this here but there are all sorts of esoteric cycles for this week. Only caution is next week is opex week and would also be 33weeks from the July low. It’s hard to see a drop during opex week and next week could give a DeMarkian sequential weekly sell signal (actually recycling one that is already in place) if it holds up in this area.
Today is the first day with a daily bar completely above the August 2008 high and if this is a false breakout, the market needs to put a few days above the 8-2008 levels. Currently there are 6 consecutive daily bars above the close 4periods earlier and I expect an extension to occur to at least to a 9 count.
SPY p/e and eps raised due to the fantastic earnings season! i’ve made my adjustments, i’m raising my 2011 target price from 1400, to 1497—sorry folks, I have to trade what’s right in front of me, (always)__
I am thinking the same thing.
Anything is possible in this controlled market!