The Cramer Code does imply a major meltdown from Sept 4 to September 15 (previously I had interpreted it to mean a June 18 to Sept 4 meltdown but that still might work as an important peak to peak as the illum. work in anagrams and riddles). The Sept 1930 stock market high was made on a double top which the 2010 stock market has probably already seen (June 18/21 and August 9)
I haven’t checked any of the blogs today or any weekend subscription info but currently crude oil is down nearly $1 from Friday and the euro is down hard from yesterday yet SP futures are slightly up. Something doesn’t jibe there. It was very depressing getting caught up in the moment last week and seeing a potential blastoff higher in every technical indicator but the long weekend has provided a nice dose of clarity and perspective. 4 day indicators are stretched to the extreme and its hard to believe the ramp job can continue without a pullback. But last week could be the snapback to the extreme rally that markets show just before collapse. The verticality to the extreme of the last four days is even greater than seen at the July bottom or the June bottoms. 60min Macd is overbought but what the bears don’t need to see is a small pullback that works off this overbought level but nevertheless I think any pullback should take the MACD back to the O line. None of the foreign markets showed any carryover from Friday’s action.
Checking charts I notice a fractal similarity to the action off the April high till now to the 2007 bear market with our current action being approximately the Sept 2008 area. The June double bottoms were equivalent to the Jan March 2008 doublebottom etc. etc.
I also saw a chart of corn from 2004 and noticed the similarity of the snapback rally just before it collapsed to what the stock market has experienced the last week; a slow choppy slightly uptrending bottom and then bam a multi-day ramp job that took out the previous top (ie SP 1090) in a false breakout and then reversed down hard. The one thing bears need to see now is an immediate hard reversal and not the continuation of a stair step pattern higher or mild pullbacks.
I think we could go down to 1090 area Tuesday to fill the gap, and then back up the rest of the week. It’s likely to be choppy, while they weed out the bulls and bears.
I had 1135 on sept 21, but now I have 1150 by eod thursday or friday morning. I’m not sure if I believe it myself, I’ll find out soon enough. A ‘pause’ at around 1123 would help to confirm….
http://zstock7.com/?p=3242
only 2 places to short FCX….
80 or 82.9–
You have GDX double top imminent failure, so that sort of takes out 82.9.
I’ll bet you, ( any amount) if you ask 95 ( so-called)experts, should you short FCX right now, they will will just look at you, like a “Deer in the headlights”.
Chaos at best, futures may have hit a top. Check my blog for details.
The Cramer Code does imply a major meltdown from Sept 4 to September 15 (previously I had interpreted it to mean a June 18 to Sept 4 meltdown but that still might work as an important peak to peak as the illum. work in anagrams and riddles). The Sept 1930 stock market high was made on a double top which the 2010 stock market has probably already seen (June 18/21 and August 9)
I haven’t checked any of the blogs today or any weekend subscription info but currently crude oil is down nearly $1 from Friday and the euro is down hard from yesterday yet SP futures are slightly up. Something doesn’t jibe there. It was very depressing getting caught up in the moment last week and seeing a potential blastoff higher in every technical indicator but the long weekend has provided a nice dose of clarity and perspective. 4 day indicators are stretched to the extreme and its hard to believe the ramp job can continue without a pullback. But last week could be the snapback to the extreme rally that markets show just before collapse. The verticality to the extreme of the last four days is even greater than seen at the July bottom or the June bottoms. 60min Macd is overbought but what the bears don’t need to see is a small pullback that works off this overbought level but nevertheless I think any pullback should take the MACD back to the O line. None of the foreign markets showed any carryover from Friday’s action.
Checking charts I notice a fractal similarity to the action off the April high till now to the 2007 bear market with our current action being approximately the Sept 2008 area. The June double bottoms were equivalent to the Jan March 2008 doublebottom etc. etc.
I also saw a chart of corn from 2004 and noticed the similarity of the snapback rally just before it collapsed to what the stock market has experienced the last week; a slow choppy slightly uptrending bottom and then bam a multi-day ramp job that took out the previous top (ie SP 1090) in a false breakout and then reversed down hard. The one thing bears need to see now is an immediate hard reversal and not the continuation of a stair step pattern higher or mild pullbacks.
I think we could go down to 1090 area Tuesday to fill the gap, and then back up the rest of the week. It’s likely to be choppy, while they weed out the bulls and bears.
I had 1135 on sept 21, but now I have 1150 by eod thursday or friday morning. I’m not sure if I believe it myself, I’ll find out soon enough. A ‘pause’ at around 1123 would help to confirm….
http://screencast.com/t/ODkyNzRjNT
Sorry for the late post, but I’ve had some computer problems. The weekend post is up now.
Dow Jones futures hour chart
http://zstock7.com/?p=3242
only 2 places to short FCX….
80 or 82.9–
You have GDX double top imminent failure, so that sort of takes out 82.9.
I’ll bet you, ( any amount) if you ask 95 ( so-called)experts, should you short FCX right now, they will will just look at you, like a “Deer in the headlights”.
I added like 10,000 ads and you tube video’s…That can’t be helping any.
Try firefox or chrome browser. IE never seems to work very fast at my site.
Z, your site is very slow. I tried getting in since Friday, but could not get the page to load up. Did you change anything recently