I think the bottom is about in now gang and we should start back up tomorrow and into early next week. We could still hit a new high above 1576.09 and that “could” happen on Wednesday the 10th as that’s another ritual “eleven” day.
Sorry for the late reply Peter, this new disqus doesn’t show your comment at the top like the old one did. So you have to go scrolling through looking for something new. Really stinks…
Anyway, I’m looking for 200-400 points down on the SPX from the coming sell off starting in late May with the 22nd being the most likely day for the final high. Of course do keep in mind that I’ll likely be wrong on that day as the gangsters read this blog and will make me wrong just because they can.
Michigan won an NCAA championship in 1989 or 24 years ago so that helps explain some of the connection.
Michigan’s star guard Burke scored 20 points and 10 assists in the Sweet 16, the first guard to do so since Billy Donovan of Providence (coached by Pitino) in 1987. Donovan of course is Florida’s head coach and they were eliminated in the Elite 8 by Michigan.
Well, it’s pretty obvious when D-Day will occur now and the market needed to top yesterday 4-2 if it was going to do a traditional trading day decline into D-Day (the real 42——by the way 42 will be released next week???)
Now let’s get back to the NCAA tourney—–1987 NCAA champ Indiana was eliminated last weekend by its 1987 nemesis Syracuse. Meanwhile, Louisville led by another 1987 Final Four coach, Rick Pitino has made it to the Final 4 joining Syracuse. The star of the 1987 Indiana team, Steve Alford was the New Mexico head coach who was upset by Harvard in the PI matchup (3-14 seed faceoff).
Afterwards, he signed a ten year 20 million + plus extension with New Mexico but then bolted ship when traditional power UCLA wooed him to be their next coach.
Going back to the Harvard-New Mexico matchup, Harvard’s head coach was on the 1987 Duke squad that was eliminated by eventual champion Indiana in the Final 4. He also was Michigan’s previous coach. Michigan has now returned the Final 4, the first time since the Fab 5 era (45???) in 19(93)???. Don’t really understand the Michigan connection but Michigan might be a Bradley state???
It is entirely possible that the high of 1573.66 SPX is all we are going to get for now. They could have decided to stop around 3 points down from the previous high instead of going over it by 3 points like how the 1555.90 (07/16/2007) was when compared to the 1552.87 (03/24/2000).
If so, then this could have ended that intermediate wave 3 up and we are now starting the smaller wave 1 down inside a larger intermediate wave 4 down. This 5 wave move that makes up intermediate wave 4 down could be 100 points (the one from 07/16/2007 was 133 points). I’m now going to look for the next wave up to be a smaller wave 2, just like the 1555.20 peak was on 07/19/2007… followed by the smaller wave 3 down that we are all looking forward to.
Remember that the “operators” of this game called the stock market have too change things up a little to keep us sheep guessing. Sometimes they give us clues like today when they closed the DOW down 111.66 points. Is that a signal that the high is in now? Could be?
The key here to watch is to see how powerful this rally back up is? Will it be a smaller wave 2 and only retrace 50% or even 38.2% of the sell off we just had or will it go up to take out the all time high of 1576.09 (maybe by the next “eleven” day of April 10th)? We’ll have to play this close here and look for news events or reports that can move the market hard.
Possibly they use the jobs data to spark a rally that does take out the prior high or maybe it’s a non-event and will only produce a smaller wave 2 up? Either way I’m now waiting on this move up before shorting. I missed this move down (obviously) as it never occurred to me that the could do the opposite this time around (meaning miss the prior high by 3 points instead of going over by 3 points).
Ah… the life of an “operator”, who’s sole job is to trick us sheep and steal our money. What a wonderful place they will have waiting for them in the afterlife!
New FP on FAS… http://screencast.com/t/Ylg6CqJWZ1b
I think the bottom is about in now gang and we should start back up tomorrow and into early next week. We could still hit a new high above 1576.09 and that “could” happen on Wednesday the 10th as that’s another ritual “eleven” day.
LOL. time will tell, all you can do is hope
Sorry for the late reply Peter, this new disqus doesn’t show your comment at the top like the old one did. So you have to go scrolling through looking for something new. Really stinks…
Anyway, I’m looking for 200-400 points down on the SPX from the coming sell off starting in late May with the 22nd being the most likely day for the final high. Of course do keep in mind that I’ll likely be wrong on that day as the gangsters read this blog and will make me wrong just because they can.
Michigan won an NCAA championship in 1989 or 24 years ago so that helps explain some of the connection.
Michigan’s star guard Burke scored 20 points and 10 assists in the Sweet 16, the first guard to do so since Billy Donovan of Providence (coached by Pitino) in 1987. Donovan of course is Florida’s head coach and they were eliminated in the Elite 8 by Michigan.
S&P 500 Analysis after closing bell: http://niftychartsandpatterns.blogspot.in/2013/04/s-500-analysis-after-closing-bell.html
Well, it’s pretty obvious when D-Day will occur now and the market needed to top yesterday 4-2 if it was going to do a traditional trading day decline into D-Day (the real 42——by the way 42 will be released next week???)
Now let’s get back to the NCAA tourney—–1987 NCAA champ Indiana was eliminated last weekend by its 1987 nemesis Syracuse. Meanwhile, Louisville led by another 1987 Final Four coach, Rick Pitino has made it to the Final 4 joining Syracuse. The star of the 1987 Indiana team, Steve Alford was the New Mexico head coach who was upset by Harvard in the PI matchup (3-14 seed faceoff).
Afterwards, he signed a ten year 20 million + plus extension with New Mexico but then bolted ship when traditional power UCLA wooed him to be their next coach.
Going back to the Harvard-New Mexico matchup, Harvard’s head coach was on the 1987 Duke squad that was eliminated by eventual champion Indiana in the Final 4. He also was Michigan’s previous coach. Michigan has now returned the Final 4, the first time since the Fab 5 era (45???) in 19(93)???. Don’t really understand the Michigan connection but Michigan might be a Bradley state???
It is entirely possible that the high of 1573.66 SPX is all we are going to get for now. They could have decided to stop around 3 points down from the previous high instead of going over it by 3 points like how the 1555.90 (07/16/2007) was when compared to the 1552.87 (03/24/2000).
If so, then this could have ended that intermediate wave 3 up and we are now starting the smaller wave 1 down inside a larger intermediate wave 4 down. This 5 wave move that makes up intermediate wave 4 down could be 100 points (the one from 07/16/2007 was 133 points). I’m now going to look for the next wave up to be a smaller wave 2, just like the 1555.20 peak was on 07/19/2007… followed by the smaller wave 3 down that we are all looking forward to.
Remember that the “operators” of this game called the stock market have too change things up a little to keep us sheep guessing. Sometimes they give us clues like today when they closed the DOW down 111.66 points. Is that a signal that the high is in now? Could be?
The key here to watch is to see how powerful this rally back up is? Will it be a smaller wave 2 and only retrace 50% or even 38.2% of the sell off we just had or will it go up to take out the all time high of 1576.09 (maybe by the next “eleven” day of April 10th)? We’ll have to play this close here and look for news events or reports that can move the market hard.
Possibly they use the jobs data to spark a rally that does take out the prior high or maybe it’s a non-event and will only produce a smaller wave 2 up? Either way I’m now waiting on this move up before shorting. I missed this move down (obviously) as it never occurred to me that the could do the opposite this time around (meaning miss the prior high by 3 points instead of going over by 3 points).
Ah… the life of an “operator”, who’s sole job is to trick us sheep and steal our money. What a wonderful place they will have waiting for them in the afterlife!
GOLD Trend update: http://niftychartsandpatterns.blogspot.in/2013/04/gold-trend-update.html
SPX update… http://screencast.com/t/lX2A6q4HP3G