Hope your resting yourself after yesterdays run in.If you called bull yesterday then it was a great call.I just went in and out fast with a quick take and rested.Objectively the market should either be green or flat today but with the news reports coming out later jobless claims and all.Flat day should be out of the picture.Wished i had your insights on things hahaha your good karma in helping all the animals seems to be paying off really well.
Interesting…a contributing factor for the 1987 correction was the US shelling an Iranian oil rig. We had a BP rig blow up before the May 6 crash. Maybe we’ll have Israel bomb Iran’s new nuclear reactor?
On the 4year cycle, the market normally bottoms in early November so it could be inverting here. On the 10year cycle, the market topped on election day in 2000 and I believe there was an intervening high in 2008 on election day. $vix got manhandled today but it appears that happened in late April as the $vix was stairstepping higher.
Ok, Nov 4 has the big cycles. 88calendar days from 8-8, 88 trading days from the July low, the Miami Thrice ((WallSt.J came up with this moniker)) # from the June 21 summer solstice high (calendar days). 6years 9months from the 2/4-2004 date in Social Network. 47trading days today from the August 25 low (there were 47tds from April high to July low). Today is 113tds from the May 25 low in commodities/crude oil (48tds into first high followed by today’s high 65tds later (add those numbers together and each column is 46+85). Today’s high in the SP of 1198.30 minus the July SP low of 1010.91 is 188.49. Today is also 711 calendar days from the Nov 21,2008 low…..Then there are some normal cycles. The transports were the last index to make a high on May 3, 6 months ago.
Yes, I agree. Most of the time it’s “buy the rumor, sell the news”, and it could still be that way now? The only way I see us getting to 11,800 is to gap above the double top area around 1215-1220 spx, and create a big bear squeeze up to 1260-1280.
But, a failure to gap above that area means we will like sell off from it. Anytime you haven’t hit a level in quite awhile, like since April, the odds of a multi-day pullback is very high.
As for whether we simply have a correction or crash is unknown, but that FP is bugging me. It’s going to be hit at some point…. but when? I just can’t answer that. We’ll see tomorrow I guess.
Hey Red, you could be right about Dow 11,800. My only concern about today is that the Dow failed to break out, which means the S&P breakout remains unconfirmed. Furthermore, we saw professionals pushing hard at the close to run the stops on the futures, so essentially what you saw all of the last hour was professionals trying to break the high in the overnight futures to get those prices filled on their positions. It was all on small position size (small traders getting run out).Also, “buy the rumor, sell the news” is older than Wall Street itself it would seem. I would really tend to think it works, it might just take a few days to pick up. If tomorrow is up big, then it will put that argument to bed.
S&P 500 Analysis before opening bell: CLICK HERE
Hi Anna
Hope your resting yourself after yesterdays run in.If you called bull yesterday then it was a great call.I just went in and out fast with a quick take and rested.Objectively the market should either be green or flat today but with the news reports coming out later jobless claims and all.Flat day should be out of the picture.Wished i had your insights on things hahaha your good karma in helping all the animals seems to be paying off really well.
Hi Red and company
I am just posting the facts and only the facts 😀
http://www.hotoptionbabe.com/blog/81-up-up-and-away-in-my-qe2-balloon.html
Well folks, I believe EVERYONE is long now……Get on the gravy train or lose $$$$$$. The rig is in……. 🙂
Interesting…a contributing factor for the 1987 correction was the US shelling an Iranian oil rig. We had a BP rig blow up before the May 6 crash. Maybe we’ll have Israel bomb Iran’s new nuclear reactor?
On the 4year cycle, the market normally bottoms in early November so it could be inverting here. On the 10year cycle, the market topped on election day in 2000 and I believe there was an intervening high in 2008 on election day. $vix got manhandled today but it appears that happened in late April as the $vix was stairstepping higher.
Ok, Nov 4 has the big cycles. 88calendar days from 8-8, 88 trading days from the July low, the Miami Thrice ((WallSt.J came up with this moniker)) # from the June 21 summer solstice high (calendar days). 6years 9months from the 2/4-2004 date in Social Network. 47trading days today from the August 25 low (there were 47tds from April high to July low). Today is 113tds from the May 25 low in commodities/crude oil (48tds into first high followed by today’s high 65tds later (add those numbers together and each column is 46+85). Today’s high in the SP of 1198.30 minus the July SP low of 1010.91 is 188.49. Today is also 711 calendar days from the Nov 21,2008 low…..Then there are some normal cycles. The transports were the last index to make a high on May 3, 6 months ago.
I added a second video update. Refresh page again.
Yes, I agree. Most of the time it’s “buy the rumor, sell the news”, and it could still be that way now? The only way I see us getting to 11,800 is to gap above the double top area around 1215-1220 spx, and create a big bear squeeze up to 1260-1280.
But, a failure to gap above that area means we will like sell off from it. Anytime you haven’t hit a level in quite awhile, like since April, the odds of a multi-day pullback is very high.
As for whether we simply have a correction or crash is unknown, but that FP is bugging me. It’s going to be hit at some point…. but when? I just can’t answer that. We’ll see tomorrow I guess.
Hey Red, you could be right about Dow 11,800. My only concern about today is that the Dow failed to break out, which means the S&P breakout remains unconfirmed. Furthermore, we saw professionals pushing hard at the close to run the stops on the futures, so essentially what you saw all of the last hour was professionals trying to break the high in the overnight futures to get those prices filled on their positions. It was all on small position size (small traders getting run out).Also, “buy the rumor, sell the news” is older than Wall Street itself it would seem. I would really tend to think it works, it might just take a few days to pick up. If tomorrow is up big, then it will put that argument to bed.