Dear Readers, Subscribers, Today will be the last day Will publish the market outlook before market opens. The information will still be published, but only on Psite (Protected, Subscriber accessed site).
We may from time to time, provide a glimpse again into this valuable service, for free, but not daily for sure.
Ok, so today is looking like a V(inverted) shaped day, where market has a chance to rise into 11-14 ET time frame and make the bases at the open and close. If I had to narrow down the top it would come out around 12:00 ET. Enjoy
937 932 923 913 $spx
959 965 973 984
31.65 31.36 30.89 30.31 qqqq
32.88 33.17 33.63 34.22
933.29 926.79 916.22 903.13 es
960.72 967.22 977.75 990.88
97.76 97.53 97.16 96.69 jpy
98.73 98.96 99.33 99.80
730.72 726.32 719.16 710.30 xau
744.88 749.28 756.41 765.30
OK Dear Readers,I knew from the get go that it was difficult to figure out the top of the Inverted V thus the wide range of 11-14. Well guess of the 12:00 ET as a center of the V was obviously incorrect, that is why my suggestion was to take 1/2 of the profits and trail the rest. Now it remains to see if the top will indeed end up to be no later than 14:00 ET.
PLEASE NOTE the 12:00 top was at 3rd IHAP and top at 13:40 ET ( few minutes ago) was at around 4th IHAP!
10/31/2008 1:40 PM
Dear Readers,I have been wrong before ( in short term JPY trading crashet), but the 10 point correction in last 5 days can certain be qualified as a mini "chrashet" and it coincided with the rising market. So, you may say I was vindicated after a big runup in JPY, which I expected only after the "crashet". Now, the question is? Are we in the crashet that will turn into crash in next 2-3 days? which may be able to carry this market even higher.To that I would say, that the probability exists for that. Definitely. It could take one of the two shapes. Some more strength in YEN and then 5-7 days of decline or no strength(almost) in YEN and decline within next 3-5 days ( of another 5-10 points).I am not entirely sure about which of these ( if at all) will play out, but I see the parts of what I was predicting all along in place.So, we shall see.
10/31/2008 1:46 PM
15:00 ET, Ok it is hard to see the real V shape and it is hard to see even half V shape to come out of todays market after 14:00 ET. The truth as you all know is that my daily forecasts do not really predict the prices, just a shape of prices and that still may prove to be a token Inverted V. I should perhaps make that clear every time I put the forecast out as people may not remember the caveats that go with these forecasts. Essentially we could consider today as V (inverted) if the price at the close are lower than 14:00, the last time for the market top to have happened. Now, that may still happen and leave me correct(:- ! ... All the way!
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