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SPX: 3LB Daily. It found support for now at the level of the Oct 09 low. However this is not a convincing up move unless we go above the traders' much-discussed 1050...or 1049.22 on this chart.
V is ready for an important cross-over:
Jamba revisited: reversal can be expected any time, from here to 1.78.
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P.S. Beer is ok, but when it’s hot I prefer the lime-based tropical drinks Margarita or the Brazilian Caipirinha...all on ice!
It looks like this summer will be HOT! Some fresh and cool JAMBA JUICE might be what many people might like.
We might like the “Bullish Three Drives” formation and buy upon reversal - but not before it’s time.
Have a look at ENS. I think the chart looks good.
GS is also an expert on batteries. It came out with…“a buy recommendation for Enersys with a six-month target price of $29”
QQQQ on Friday: 3 bearish figures, but decreasing drop sizes (1<2<3) and a last hour gambit.
This sequence of events during a low volume day suggests an astute and effective market engineering.
Be careful! Don’t trust dem Boyz!
Got some at 1.90. I was hoping to get more and cheaper since I was expecting VIX to fall to 28.88 (pivot), but it did not happen.
QQQQ again: a clarification. I am looking at those lower targets because the previous “bearish butterfly” is morphing into a bullish figure: a “bullish crab” (blue lines), as named by its discoverer, Scott M. Carney. But to get completed and become bullish, this figure needs a further drop of the Qs to his predicted 48.50 or my optimized 38.90.
I also have on this figure a 12 wks time cycle, which predicts the next trough at the beginning of August.
OK, UR… now comes the hard question: can the Qs drop in two weeks (for OpEx) somewhere between 40 and 41...or even lower?
The chart bellow says : yes they can, and even sooner… at least according to these optimized pivotal extensions, derived from the bearish Gartley Butterfly which initiated the downtrend.
HI UR! I think you got something there…I have here both Jul 40 and 41 puts, on 1 min charts.(time = MDT).
I noticed that trades of large blocks of 41puts were followed by equally large sums of trades of 40 puts, after a few minutes. If they were independent purchases this is very bullish. If someone was building a debit spread that is bullish too! Hard to decide what happened because the “historic time and sales” record which I looked at is not very clear about it. A rough analysis of the putative spreads says that for an investment of $0.20 one could make a profit a $0.80, which is not bad at all.
Here is the BUY signal for SI :
Many market analysts are now considering a short term bounce, as a corrective move.
The chart below has Optimized Extension levels, based on the “BIG BAT” and the active FAN.
YES, according to both, we are at a support level, which might hold.
AAPL: with the help of “divine intervention”, 251 will probably hold. The next lower support = 245, but I assume that we will not get there soon.
OK UR, let’s look at my weekly too. We agree on 875. Maybe lower: 750. I think we can say goodbye to the 1040 level and the MAW, which was such a reliable support for a while. But before getting there we have 1000 or your 993, which are very close.
On this chart one should notice the perfect bowtie knot of the three MA-s which were so significant for previous moves. It appears that the present drop, which might leave all of them behind, is significant. That means that it won’t be a simple “correction” like July or January and you are right to look well below the present level…
B, here they are : the Spyder and the Bats. Notice that the base of the OCTAVE happens to be at 1000 (possible target).
If we consider the 1044.50 of 02/05/10 as a first test of this area, then today is number 4. Remember Gann’s rule of 4? OK…if it drops through 1040…we have a target at 1020 on this chart, which I showed many times. This 1020 level happens to be also the target of Peter Eliades for this move…1020 is not too far down!
.GIF)
AI
