O GLD 65.66 - 66.92
N QQQQ 46.89 - 47.37
N SPX 1437.00 - 1447.10
O TSX 14114.38 - 13906.11
SPX hit the first low 1437. next 1434.63
NYA hit 9290 for the bottom, unless violated forget new lows.
This summerhas been wonderful for those who move YEN/JPY, ( I wonder who that is?). Moving Yen moves markets and every turn some people make money. Is not it nice to be in control of YEN?
It is going off leash again, so the upmove could be done, unless YEN betters 115.57
30 comments:
I'd really like to see us go back up, maybe a little above the opening highs before I short...might not happen.
Dear Sqroot, this would have to be faster short than we usually take. I would be careful of shorts here, GAGES say we have max day or two
Given the recent volaitily it may work though.
Good Luck
Good Trading
SQROOT
for what its worth thats what I was planning--in fact right at Boris high projection today
LAG
This pattern looks like a zig-zag down, finishing tomarrow around 1393 ish...
Dear Mlytle,
Thank you for your excellent input. I am not EW follower, but many are, if it works great.
Please keep contributing when you wish/can
Good Trading
Will short some TWM near the 71 level
Thank you Boris for the compliment...The market continues to change and the bottom targets are moving...as soon as todays little rally ends I will have new fibonacci targets..Trin is now in overbought range and the rally has now retraced close to 38% of the drop from 1479.40 so it could end soon..
mlytle
Dear Lytle,
AHA... good old TRIN. Yes, Agree that is a possibility.
Especially, cause I see the DOG/YEN is going of leash again?
Good Trading
Good day all, Boris when you get time could you give opinion where ung might bottom. Thank you for your comment.
Dear Waldo,
I still have this company not figured out. Not enough history, but from the purely FIB projections 34.50 area was a support and next one is at 28.50.
When this stock has about one year history we will be able to do more with it.
We also seem to have had an exhaustion bar yesterday. So, it it is not violated it maybe a good confirmation for this area to be a support ( FIB and Exahaustion)
Good Trading
It's just amazing watching fxy trade creeping up in penny increments and then take it down hard in 10 to 12 cent on bid & ask. Boris thank you for pointing the yen out to this board.
Boris,
For the new guy, is there a site where i could just keep an eye on the yen. i know it is fxy but is that sufficient.
thank you.
Old John
Dear Waldo, Thanks, no problem that is the point of this site to tell people what to watch, so that pros do not stick us anytime they want without being afraid that they may get it back(: :).
Dear John, FXY is fine, otherwise you could check, not in real time, the currencies on BLOOMBERG.COM
Good Trading
This is not a market to be overly bullish on yet. What I just noticed goes against the pressure gauges and the energy diagram, but so far this correction has mirrored the 1929 "Babson Break" on 9/3/1929 (Bull market high). Overlay that date with the 7/19/07 top and see how closely they correlate, right up through last week's rally. The price % changes are a little off, but the timing and direction is right on. If this pattern is true, then today is 10/15/1929 and we are about to crash into a bottom 2 weeks from now.
Dear Blaine,
It certainly is not written in stone that my blueprint will happen and/or will be followed remotely closely.
Having that said, going against gages is not possible.
The pressure gages have a built in (innate) ability to adjust to the declining/rising markets.
Just like it has kept adjusting to the initial drop from 7/19.
Remember it is build on notion that as long as the pressure builds in some direction, there is always 1-2 days before turnaround. that means, if the the market keeps falling the buy pressure will keep rising , but not get to a turnaround until it actually has turned around... nice ha...
So, Yes, your comparison is interesting and could have as much chance as my blueprint, who knows... Markets often have very similar portions, but are never exactly the same. That is where the deception often lies.
In any case, very interesting alternative path to watch.
Thanks a lot
and Good Trading
Hi Boris,
Rally Fizzles at 12:00 PDT
Resistance:
2538.5
1453.5
Jim
Hi Boris! Looks like you were right today. From over-sold one day to over-bought the next. Who would've thunk it.
FXY will fill that big gap from yesterday at 86.12. just got filled. now what?
Wow. There's a reality check. To use a boxing analogy, my face is bloodied. Broke the rules and paid the price. Should have exited about 90 minutes ago. Have to go lick my wounds now.
Paul
Amen Paul! I had my finger on the sell btton yeaterday at 3.58pm. But no, greedy me wants it all!
Dear Paul,Chronictown,
I understand that human nature that greed.
That must be overcome. That is why the disciplined approach.
I said today, buy ( shorts, especially) at the lows of the day and gave the low limit of SPX/R2K and QQQQ.
It is ok, there is not big point in making mistakes. We all do.
Just make sure to let some reason in from time to time.
Good Trading
Boris, you were right , I was amazed at how quickly this market reversed...
mlytle
boris,
thank you again
Old John
Yes, Boris, you are correct. If only I was a better listener as my wife keeps telling me I need to work on this area. Still, I let a small loss get out of control and I should know better. Discipline is so important I must never forget.
Thank you again Boris for reminding us to never lose. I will write it down over and over until my hand is numb.
Dear Boris,
It is wonderfull to see you in action. You do not get distracted by different oppinions, stay on your own track. Numbers do not lie. Your graphes are unbeatable.
For anyone who want to follow USD/JPY or other currencies http://www.dailyfx.com/charts/Chart.html is free in realtime.
Thanks for your excellent work.
Good trading & my very best rgrds
Istvan
cezfari.
thanks- learn something everytime i check the board.
Old John
Dear Istvan, we are greateful for your insights and help you provided John on his search. I have , for long time, gotten my FOREX via Esignal and that is expansive, therefore, I could not really recommend.
Good Trading
I have been watching the 1929 and 1987 comparisons and they are compelling.
One not so compelling figure is that the lows came around 155 cal days from the previous important low which makes July 16 it.
That also makes June 20 the othodox top for the usual 56 cal day fall and also the the 90 to 98 day prior run up.
BUT the patterns since are remarkably similar and if July 24th holds as the high, because both '29 and '87 had 18 cal and 12 trad days down from their secondary tops the the crash low would be....
911
I think I know that date.
Dear Voltaire,
Excellent Analysis indeed. If that is the course taken, We hope to be ready, partially because you alreted us and obviously, cause our pressure gages confirmed it... That would be great.
Good Trading and we surely appreciate this very/very intersting info.
Good Trading
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