NDX is breaking down ..
.. and trying to take the rest of the market with it ..

golfin.. nice chart, thanks

.. looking it over.

Aire..was wondering if you were still lurking..

.. good to 'see' you. Kudos on the artwork on your previous (cycles) post. MS Paint, no ? Never thought I'd see the day *VBG*

On the other hand...

..INDU and SPX appear to be making rounded bottoms (see below)

..yesterday appearred to be the 7-day cycle low

.. many stocks are at the bottom bollinger band on weekly charts, which should offer strong support, giving a bounce before possibility of going lower

.. However, NDX and SOX have invalidated their rounded bottom formations

.. I'm suffering from "analysis paralysis" and havent been able to pull the trigger for a while.. (I'm sittin' here all cash and I'm gettin' edgy

SPX:

INDU:

golfin .. why ? (eom)

strong downdraft for a 7 day cycle low (eom)

Mr. Cash .. I also have 6-7 day ending this afternoon..

... nice to know my clock is in synch with someone

... what are your thoughts if NDX and SOX put in new lows today ?

this is trading like it's the last 2 weeks in August

.. no volume, no direction, totally anemic

.. stopped out for a 5c loss

did someone press the "freeze" button ? (eom)

what color is this lipstick? (eom)

One thing I think we both believe..

.. we're in a major nest of lows (20/40/80 wk?) and it's due to complete soon.

.. and we're both looking for an entry to go long.

aire.. yep ...

.. I don't see anything that looks like a 40 week anywhere in the middle of that first 80 week either.

.. not too comfortable with the 'disappearring 80 week low' for January, either.

.. something's not right ... perhaps really strong trend, or perhaps 9/11 still resonating in the cycles... I have no idea.

.. I'm back to Edwards and McGee, bollinger bands and daytrading the Q's until this makes more sense.

.. if you can't figure it out, nobody can..
.. I do agree things will clear up before too long, though.

A few thoughts on SPX and where we are ...

(1) I've noticed the past 3 major bottoms in SPX have taken approx 5 weeks to resolve (consolidate) before the trend resumed.

(2) Wondering whether we're seeing some residual resonance from 9/11 causing the cycles to behave 'oddly'.

(3) Taking a step back and looking at the last 4 years weekly chart... I'm wondering if we're not actually in the window for the '80 week' low

(4) In any event, I believe we're at or near the bottom of this cycle and am looking for an opportunity to go long.(In my IRA.. will continue to daytrade my trading account)

Sold all my USPIX ultrashort in my IRA

... now 100% cash

... will wait to see which way the wind blows

She's headed for the bottom (eom)

[Suppressed Sound Link]

Chub..Think you're just a little early

.. good luck..

lots of falling knives (eom)

QQQQ bid 38.45, ask 38.28 ... PPT ? LOL (eom)

Aire.. welcome to the sidelines

.. pull up a lazy-boy and I'll get you a cold one

.. BTW, this lowers your batting average to .995, LOL

Chris..I dunno, you may want to wake the PPT (eom)

pmiles - good move (eom)

Mr. Cash.. agree.. looking for DB today(eom)

Gap up, no volume, no follow-through

... this is why golf was invented.

Airedale.. pls drop me a note when you have a minute(eom)

holding short.. looks weak (eom)

a bit early (as usual) (eom)

short AAPL 66.34 .. good morning(eom)

covered my AAPL short at 64.70

.. good evening everyone !

... and short AAPL again 65.21 .. ready to fall off a cliff(eom)

.. and covered at 65.28 ..

.. fish in a barrel

reshorted AAPL at 65.60

.. think it'll fall from here... we'll see.

Covered my AAPL short at 65.30 ... ( $1.20 gain )
reshorted at 65.61 and got whipsawed for a 3c gain

time to make coffee and regroup

cash.. wouldn't be the first time (eom)

Shorted AAPL at 67.60..

I think this morning was the 3-day bottom GLGT

thanks aire (eom)

Here's the one that makes my head hurt...

... the theory is that the cycles are getting back in sync
... if you look at the charts I posted earlier and compare with this one, hopefully you'll see what I see ...

and SMH:

Here's TXN:

IMHO.. we're in the last 10wk cycle of the 80, 4 weeks along

trading halted on Nikkei, look out below(eom)