Limits, willbe late, much going on

Dear Readers, today's limits.
N QQQQ 46.16 - 46.34
N GLD 66.07 - 66.53
N USO 48.15 - 48.83
N ECA 55.37 - 57.89
N SPX 1486.05 - 1506.55
N TSX 13790.67 - 13974.54 ( 14010, 14071)

We are at the top range 1 st resistance TSX if no big push in 3-4 minutes we may hit an exhaustion bar and start heading lower.

It seems to be going for 14010. Good Call Dear Danno. 10:58 EDT.

Looks like this rally has legs into early Monday.

This is by the same source , that alerted us to 1:42 bottom yesterday. No guarantees for such perfection.

Do you have a headache from all of these head fakes. Market goes up, market goes down. Everybody is feeling like being in the boat and just about to vomit. This is the markets job to get investors to an exhaustion where they are unable to act, frozen like Volga in winter.
Good Trading

Jim Taylor, JD said...
S&P Closed yesterday at support 1491.89
now rejected by 1501.56
NAZ will test support at 2550.25 (+16.51)
DOW will test 13282.56 (+67.43)
Looking for TREND CHANGE BY 0:9:45 PDT
5/11/2007 9:16 AM

QQQQ took out the 5th resistance today 46.58. Rare,very Rare event, came with an exhaustion bar, fake low volatility open turned into highly volatile move. You know I still have the yearly target 48.25. Does not have to reach it, but if $ is going lower next week or so, that would be the perfect time for stocks to make new UN-REAL record highs, to get the last minute BOZOS in for the trip nowhere, but lower, at least in real terms.

As Georgian Proverb Says "what does thief need? a dark night"

TSX is also showing the trend exhaustion for now.

Jim Taylor, JD said...
MINI CLUSTER AT:
NDX 100 1892.25
R2K 826.56
5/11/2007 9:52 AM

Jim Taylor, JD said...
DOW is the weakest index.
Looking for test of 13282.56 at 12:15 PDT
Indexes in Distribution Mode until 11:22:30 PDT.
5/11/2007 10:57 AM

What Next?

Dear Readers, The buy pressure is not yet where one could contemplate the strong move up, in fact, it is possible that we are at the begining of the weakness in the markts ( CYAN line has a long way to go up). So, relax and observe action today. Another strong day down will confirm the "begining", any other action will indicate the meandering phase of the "weakness"...The $ may have exhausted the near term strength and we could start (in a day/two) another down move in $Dollar lasting into 23/5 +- 2 days. Gold has taken dive ( we told you in April, not expect anything good until June). So, just let the bulls boil in their own juices and be patient, upwards move will come. Energy, yes, everything seems to be going down, as everything was going up... Interest rates, as before, bound for a while, could rise before causing the stronger move up in $ into Sept. But you know all of these, we just repeate them for convenience. Good Trading

Limits

Dear Readers, today's limits.
N QQQQ 46.51 - 46.81
N GLD 66.57 - 66.95
N USO 47.74 - 49.02
N ECA 56.01 - 57.01
N SPX 1497.95 - 1518.59
N TSX 13839.40 - 13935.58
First it was Chinese Finance Official.
Then BOFA President
Even Before CITI VICE Rhodes?
NOW GOLDMAN, Are these guys finally waking up and calling the bubble what it is... $u$$le?Good Trading
Still Have not broken Yesterday's low for TSX, if that happens, we have, at least, the possibility for an accelerating downturn.
Now TSX took out yesterday law accelartion on the downside is now more likely than before.
Jim Taylor, JD said...
Hi Boris,
Looking for a STL at:
S&P 1491.89 (-20.11)
NAZ 2537.64 (-38.7)
DOW LOW 13223.5; now Bouncing off 13225; if breached, NEXT SUPPORT: 13167.56 (-195.31
5/10/2007 10:28 AM
We approach a support for Stocks and possible turnaround point right now 1:42 EDT, This means either taking partial profits if you have any or do not short here.
Jim Taylor, JD said...
NAZ approaching Resistance at 2550.25
DOW UP WAVE ENDS at 12:00 PDT
5/10/2007 11:34 AM

British Pound

Dear Readers, GBP is approaching readings between 1.97 , 1.98 which is where we thought the initial decline will go ( therefore, perhaps initial strength of $). Just be alert here. Good Trading

Stay Ready

Dear Readers, The Pressure configuration has remained somewhat unchanged, but a bit more Sell Pressure has build up yesterday. In fact, the Sell Pressure for SPX is approaching extreme levels. The Intermediate term configuration clearly indicates the down move. We have another chart today. Where we keep the ratio of the LATESTAYERS/EARLYBRAKERS, that is like the old leaders versus new leaders thing. Usually having the larger number of old leaders indicates a tired market. So, you can see that we have the scarcity of new leaders developing as the ratio is coming down. Last time around this ratio at low levels has signaled the impending drop. Nothing is ever guaranteed, but this info helps. Sentiment is one of the only things that is still not good enough for our target top formation. Being patient helped us to make some money and retain the earnings for impending action. Stay the course, watch with us and see what develops. GOLD/ENERGY/CURRENCIES/INTERESTRATES just as before. We see $ asserting today and I see that for next couple days, after which $ should start another short bout of weakness into 23/5 +- 3 days. Good Trading

where now

We have supported very near to the 2nd level TSX support 13850 or so. I thought we would hit 4th support. Now this looks to me like an ABC (M ) on the upside. Unless we break the low of today we are moving higher.
Good Trading

Limits

Dear Readers, today's limits.
N QQQQ 46.43 (34 , 27) - 46.58(62 , 67, 89)
N GLD 67.64 - 67.85
O USO 47.33 - 47.93
N ECA 56.60 - 57.69(57.93)
N SPX 1502.55 - 1507.50
Warining Markets will be volatile, numbers will blow up
Good Trading
Jim Taylor, JD said...
ASIA BUBBLE PEAK TODAY:
Hang Seng 20736 = 144 Squared
NIKKEI 17689 = 133 "
$CPC HIT THREE YEAR LOW EARLIER TODAY AT .20 (SIGN OF MAJOR TOP)
STL Yesterday on S&P at 1501.56
Next level Down is 1491.89
NAZ rejected by 2562.89
Next support is 2550.25
FED would prefer a Recession before Lowering Rates
NAZ should Test 2562.89 at 09:30 PDT
Danno said...
I speculate that this might be the top for the TSX - 14000 and ECA right around here or little higher yet.
Danno
5/09/2007 7:52 AM
Dear Danno,Garth anybody knows what the Esignal index for TSX is?
$TSX-TC the name for TSX index
TSX-TC 13863.73 ( 13801.63) - 13951.41 ( exact third resist hit)
Jim Taylor, JD said...
NYSE at 9800 9801=99 Squared
5/09/2007 9:28 AM
We have supported very near to the 2nd level TSX support 1350 or so. I thought we would hit 4th support. Now this looks to me like an ABC (M ) on the upside. Unless we break the low of today we are moving higher.