Market looks like it’s trying to rally here but appears too weak to do so. With such extremely light volume today you’d think they would have rallied by now? The short term oversold charts have worked off most of that condition and are move up steadily on their histogram bars but the market chops sideways.
Obviously that’s called a bear flag. So unless there’s some huge rally in the last half hour to close the market green I’m going to think that SkyNet wants to keep the market down here as it’s planning on moving lower again tomorrow.
Gang, Ali hasn’t had time to do another update by after speaking with him a few days ago he stated very clearly that August 7th the market should be down. Something he see’s in the harmonics. Since we appear to be in some type of wave 2 up right now the charts support a wave 3 down tomorrow… which aid’s in what Ali see’s happening on the 7th.
Whatever move up into the close we have today David I think it will end the short term rally and allow a wave 3 down tomorrow. I’ll be looking to get a small short before the close.
Looks like they decided to take it down first and then rally. Seems they always change the plan just when you think you got it figured out… LOL! So, I’m now expecting a bounce today for some smaller wave 2 up with the current move down being the wave 1 down.
That sets up a wave 3 down into tomorrow for a short term bottom. Then back up Thursday until Monday of next week. Then down again. But we still have a move down coming toward the 1650 SPX area. The timing of it is tough to figure out right now though.
Market looks like it’s trying to rally here but appears too weak to do so. With such extremely light volume today you’d think they would have rallied by now? The short term oversold charts have worked off most of that condition and are move up steadily on their histogram bars but the market chops sideways.
Obviously that’s called a bear flag. So unless there’s some huge rally in the last half hour to close the market green I’m going to think that SkyNet wants to keep the market down here as it’s planning on moving lower again tomorrow.
Update opinion on FP on the SPY… http://screencast.com/t/O88M1924F
SPX trendline supports the “possible” FP’s on the SPY…
http://screencast.com/t/NHU1dmMfeoEm
ES Support levels: http://niftychartsandpatterns.blogspot.in/2013/08/es-chart-analysis_6.html
Gang, Ali hasn’t had time to do another update by after speaking with him a few days ago he stated very clearly that August 7th the market should be down. Something he see’s in the harmonics. Since we appear to be in some type of wave 2 up right now the charts support a wave 3 down tomorrow… which aid’s in what Ali see’s happening on the 7th.
New FP on the SPY of 170.74… http://screencast.com/t/lJBh2xCT
Whatever move up into the close we have today David I think it will end the short term rally and allow a wave 3 down tomorrow. I’ll be looking to get a small short before the close.
Looks like they decided to take it down first and then rally. Seems they always change the plan just when you think you got it figured out… LOL! So, I’m now expecting a bounce today for some smaller wave 2 up with the current move down being the wave 1 down.
That sets up a wave 3 down into tomorrow for a short term bottom. Then back up Thursday until Monday of next week. Then down again. But we still have a move down coming toward the 1650 SPX area. The timing of it is tough to figure out right now though.
New Post: http://reddragonleo.com/2013/08/06/will-the-sheep-be-tricked-by-the-gangsters-changing-the-stock-market-crash-date-forecasted-by-gann/#respond
ES Chart Update: http://niftychartsandpatterns.blogspot.in/2013/08/es-chart-update_6.html