Here are some cycles for tomorrow. Sept 3 will be 27 days from August 7 which was 666 days from October 10,2008 financial crisis low. July 8,2009 low to Feb 5,2010 was 147 trading days and Feb 5 low to Sept 3 is 147 trading days. SP closed at 1090.10. The Sp closed around this level ie (1092) on 09-10-01 before it plummeted. Todays date is 09-02-10. There is also a connection to May 6 that some of you might know. But I just can’t see how a major low can come in on this date with the technicals as they are or a major meltdown unless its one of those initiation thrust downside days. Its also a fib 377 tds from March 2009 lows as Jaywiz has been mentioning and it will be 92 (11) trading days from the April 26 high.
Can the fast line on the 60min MACD get any higher? MACD is higher here than the last time it was at 1090 leaving a lot of room on the downside. It will be interesting to see if it can really gap higher tomorrow. 20 week average at 1098 will provide cover. One of these days these big upside days will be reversed by an ever larger downside day ala 1987 or 2008.
Love the upside today. Took off my rally cap now. My bear cap is now on and I’m looking for some ugly numbers tomorrow. The bulls are giddy again and its time for a reality check. It does seem like the market wants to go up no matter what the numbers are. Thats what stops are for.
2 times before, I nailed to within 6 cents where to short IYR. I’d rather not talk about the other 100 times.
anyway, here’s a chart on VNO. http://zstock7.com/?p=3203
If ( big if) VNO hits 90, that’s exactly when IYR tops for SEPT…Da Dum!
Scratch the May 6 connection. It was last month and the next one comes later in September.
Here are some cycles for tomorrow. Sept 3 will be 27 days from August 7 which was 666 days from October 10,2008 financial crisis low. July 8,2009 low to Feb 5,2010 was 147 trading days and Feb 5 low to Sept 3 is 147 trading days. SP closed at 1090.10. The Sp closed around this level ie (1092) on 09-10-01 before it plummeted. Todays date is 09-02-10. There is also a connection to May 6 that some of you might know. But I just can’t see how a major low can come in on this date with the technicals as they are or a major meltdown unless its one of those initiation thrust downside days. Its also a fib 377 tds from March 2009 lows as Jaywiz has been mentioning and it will be 92 (11) trading days from the April 26 high.
Can the fast line on the 60min MACD get any higher? MACD is higher here than the last time it was at 1090 leaving a lot of room on the downside. It will be interesting to see if it can really gap higher tomorrow. 20 week average at 1098 will provide cover. One of these days these big upside days will be reversed by an ever larger downside day ala 1987 or 2008.
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Love the upside today. Took off my rally cap now. My bear cap is now on and I’m looking for some ugly numbers tomorrow. The bulls are giddy again and its time for a reality check. It does seem like the market wants to go up no matter what the numbers are. Thats what stops are for.
Dow Jones analysis after closing bell
Is VNO going to break above 86? This is the 3rd attempt.
Nasdaq 100 Hour chart
2 times before, I nailed to within 6 cents where to short IYR. I’d rather not talk about the other 100 times.
anyway, here’s a chart on VNO.
http://zstock7.com/?p=3203
If ( big if) VNO hits 90, that’s exactly when IYR tops for SEPT…Da Dum!
I’m thinking the opposite Jim. I think everyone now assumes that this rally has factored in the numbers, and tomorrow will be a “non-event” day.
But, tomorrow opx (on the weekly’s) and they will pin the market where it makes them the most money. Look how many calls are sitting at the 107 level…
http://bigcharts.marketwatch.com/quickchart/options.asp?symb=spy&sid=9864&time=8&bars=2&bars=3&bars=1
I don’t think we will close above 107 tomorrow…