Ok, looks like we got a small gap down. Not as much as I was expecting but it’s a start I guess? We appear to be trying to fill the gap and after that I do expect some selling today. There is prior support in the 1672 area on the futures so if we get down there I’d exit all shorts. I think we’re going to have another week similar to last week where we end up basically flat overall.
However, the in between period should have us move down first and then back up to at least the FP of 170.46 on the SPY from a week back now. That’s only about 1700 on the SPX and I still feel we’ll go a little higher then that… maybe 1710? Regardless, just look for the 1672 area on the ES as the best spot to exit shorts and go long into the FP.
Tim Tebow back in the news again………..grieving and praying over his former teammate Aaron Hernandez#81???? The Patriots did have a big press conference discussing Hernandez a few days ago. Hernandez was questioned for a double shooting in Gainesville, Fla when he was at the UF and you’re going to tell me the Patriots didn’t know that before they drafted him. There was a reason he plummeted in the NFL draft that year….
Tebow with his big 316 game on 1-8, 2012 and before that in 2009 back at the UF.
Tebow====Lucky Days.
There’s some heavy duty astro coming up over the weekend when the moon and mars and pluto produce some hard squares.(Mars Pluto opposition) Then the 28th could be the 7 10 entity with it being 257777 days from the original Friday the 13th episode or 57s or 36825 weeks 2 days later. It is also the 7 year anniversary of my personal crash (which occurred on a Friday). But it is a Sunday and only futures will be trading that day.
Then there is the ultra rare Star of David astro pattern on Monday for the true 711 episode. Two grand trines with a few squares thrown in. The royal baby birth looked ideal on this date so we get a stock dislocation episode instead? Few mainstream astrologers have mentioned this pattern. I’ll see if Merriman does in his latest blurb.
(Edit: Merriman mentions it briefly—since the moon is a key aspect of it he doesn’t seem to give it much validity)
The markets need to start heading down hard if we are to get to my semi-new targets, the Canyons so to speak, dates that I have kept my eyes on so that a certain little indicator can get close back to the crash zone. It recently closed back above its 50 day average but I think its a temporary fakeout breakout ala a similar moment back in mid July 2011. It’s component is still positive albeit barely and today’s action did little to get it through the 0 line.
The FP on the SPY is now filled (even though I really didn’t think it was a real FP). The next wave down should end this ABC, 4th wave down from the 1698 high. Then we go back up to new highs.
Ok, looks like we got a small gap down. Not as much as I was expecting but it’s a start I guess? We appear to be trying to fill the gap and after that I do expect some selling today. There is prior support in the 1672 area on the futures so if we get down there I’d exit all shorts. I think we’re going to have another week similar to last week where we end up basically flat overall.
However, the in between period should have us move down first and then back up to at least the FP of 170.46 on the SPY from a week back now. That’s only about 1700 on the SPX and I still feel we’ll go a little higher then that… maybe 1710? Regardless, just look for the 1672 area on the ES as the best spot to exit shorts and go long into the FP.
SILVER Chart update: http://niftychartsandpatterns.blogspot.com/2013/07/silver-chart-update_29.html
The 2011 May-October down cycle was a clear 5 wave..not ABC, unless you want to ignore the low in October.
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Good chart though, I guess it could be called an ABC x ABC formation, both with 5 wave Cs.
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Lets see where are in mid September.
Crude Oil weekend update: http://niftychartsandpatterns.blogspot.in/2013/07/crude-oil-weekend-update.html
TESLA Motors Weekend update: http://niftychartsandpatterns.blogspot.in/2013/07/tesla-motors-weekend-update.html
GOLD Weekend update: http://niftychartsandpatterns.blogspot.in/2013/07/gold-weekend-update.html
I think more appropriate compare would be with 2011 action which let SPX be at 1440 area
http://lh5.ggpht.com/-LhvpJN7HrWY/UewywAboOJI/AAAAAAAAD_g/ASQv0chlfFg/s1600-h/2013-07-21_1512%25255B2%25255D.png
from top 5 it was abc down. same will happen now
Stop by if you get a chance – you will see that we are quite on the same page though using different methods
Tim Tebow back in the news again………..grieving and praying over his former teammate Aaron Hernandez#81???? The Patriots did have a big press conference discussing Hernandez a few days ago. Hernandez was questioned for a double shooting in Gainesville, Fla when he was at the UF and you’re going to tell me the Patriots didn’t know that before they drafted him. There was a reason he plummeted in the NFL draft that year….
Tebow with his big 316 game on 1-8, 2012 and before that in 2009 back at the UF.
Tebow====Lucky Days.
There’s some heavy duty astro coming up over the weekend when the moon and mars and pluto produce some hard squares.(Mars Pluto opposition) Then the 28th could be the 7 10 entity with it being 257777 days from the original Friday the 13th episode or 57s or 36825 weeks 2 days later. It is also the 7 year anniversary of my personal crash (which occurred on a Friday). But it is a Sunday and only futures will be trading that day.
Then there is the ultra rare Star of David astro pattern on Monday for the true 711 episode. Two grand trines with a few squares thrown in. The royal baby birth looked ideal on this date so we get a stock dislocation episode instead? Few mainstream astrologers have mentioned this pattern. I’ll see if Merriman does in his latest blurb.
(Edit: Merriman mentions it briefly—since the moon is a key aspect of it he doesn’t seem to give it much validity)
The markets need to start heading down hard if we are to get to my semi-new targets, the Canyons so to speak, dates that I have kept my eyes on so that a certain little indicator can get close back to the crash zone. It recently closed back above its 50 day average but I think its a temporary fakeout breakout ala a similar moment back in mid July 2011. It’s component is still positive albeit barely and today’s action did little to get it through the 0 line.
The FP on the SPY is now filled (even though I really didn’t think it was a real FP). The next wave down should end this ABC, 4th wave down from the 1698 high. Then we go back up to new highs.