$ stronger last hour

Dear Readers, Especially $ is stronger against the carry-trade currencies CHF and JPY. Do we see the frail nerves of carry-traders ( which is everybody speculating on Wall Street these days) soothed for a while? I believe this is within the context of $ topping before a drop into 23/5. Nothing changed except exact timing of the decline. Now, I could be wrong and wrong big way, but at this point I do not see it.
Good Trading

Need An Opening Salvo

Dear Readers, We need an opening salvo that will announce the move lower. While we have had sizable declines in R2K and QQQQ the Big indices SPX and INDU are still holding up. Whether the decline is going to be a slow or fast moving, there is always a need for an opening Salvo, a big move down(2-3%) that starts it. So far not there. Now, we could/should get it today/tomorrow or we start moving up again, as the BUY Pressure builds. Gold still meandering, Energy pretends being strong, but shows signs of sluggishness and Bonds are still stuck. Currencies are proving the turnaround up into 23/5 +-2 days.

We could come unhinged

Dear Readers, we could come unhinged here ( probability at least 30%) just like we did on late FEB. Be extremely careful of any longs here. Good Trading

Limits

Dear Readers, today's limits.
Attantion O - OLD, N - NEW.
N QQQQ 46.16 - 46.69
Incredibly precise rejection at 46.69!
N GLD 66.13 - 66.49
N USO 48.22 - 48.76
N ECA 58.80 - 59.95 (60.38 , 60.71, 61.25, 62.12)
( HIT the end... exhaustion bar?,Yearly 2nd Resistance)
more,reject/exhaust 60.25 11:14 EDT
Daily exhaust bar today/tomorrow?
Reached Fractal Exhaust 11:51 EDT
Ordinarily, It is hard to press much higher here
N SPX 1497.90 - 1512.42
N TSX 13882.60(13873) - 13932.99
Currency Traders, Turn as projected 14/5 +- 1?
Notice Stock Rally? and $ decline simultaneously
Jim Taylor, JD said...
Hi Boris,
DOW at STH 13456 116 squared
Jim
5/15/2007 8:44 AM

Jim Taylor, JD said...
DOW UP WAVE ENDS BY 09:45 PDT
Weak Links in The Chain:
NDX at 1892.25
R2K at 826.56
JIM

Good Trading

Nothing Resolved, Still

Dear Readers, For completeness of our view, please reread the last two posts. What we like to emphasize here is that BUY-PRESSURE and Average Buy Pressure are all low, which indicates that, while the situation can last for few days, it is not possible for this market to make real big strides up under this configuration. So far the market has obliged and has given up some ground. Remember, though only after market has sniffed that FED abandoned the idea "liquidity uber alles" it will be possible to see a hard break as well. So, as we have always done, we focus on shorter term moves in hopes of converting them into the longer term moves, most likely, lower. Good Trading

Limits

Dear Readers, today's limits.
Attantion O - OLD, N - NEW.
N QQQQ 46.66 - 46.99
N GLD 66.30 - 66.69
N USO 48.55 - 49.06
N ECA 58.63 - 59.17
N SPX 1501.76 - 1514.94
N TSX 13948.28(13932) - 14023.54

At the open QQQQ has hit an exhaustion bar and fractal exhaustion. 9:58 EDT-BORIS

Since I am not watching all things, very strong move of ECA Yesterday Ha... ( I wonder what the Yearly Limit is for it, I will give it later).

Sorry, could not get you QQQQ info out earlier, but 46.67 was it low? considering timing suggests high 11:15 EDT , 10:13 EDT-BORIS
OR next 46.58 , 46.48 10:15 EDT-BORIS

Have missed Nice opportunity to early profitable decision ( to sell), all cause I have only two hands and one brain. 10:29 EDT-BORIS

Q's did not register High at 11:15, Perhaps it has registered Lows? 11:36 EDT-BORIS

Next Q's stations 46.29, 46.08 13:10 EDT-BORIS

Jim Taylor, JD said...
STL for NAZ hit at 11:22 PDT (2537.92); close enough to 2537.64
DOW approaching Resistance at 13340.25
5/14/2007 12:25 PM




Good Trading

where now?

Dear Readers, Not a lot has changed for us to deviate from our previous forecast(s). We did have a good rally in US indices and even better rally in some other markets. The change in sentiment though is important and it is at a point where it supports the sell off in the market. Considering that Our Pressure Gages and cycles are already supporting the market move lower for a long time now, it seems to me that, there is very little that can hold this market up, except the destruction of $. Since I do not see that in near future ( even though weakness is projected into 23/5), I do not see an upside potential of any consequence right here and now. Please reread previous post for completeness. Just a reminder, 137.30 is almost a shue in for EURO and 140.0 is possible, but not very probable for 23/5.
Considering first 2 comments this morning, Please understand that in Real terms Market top of FEB 28 has not been broken. How about that Ha.....
Certainly the Market top of 2000 is only half way retraced. How about that Ha...
Having Told Dear Danno that some move on the upside would not surprise us, by no means implies that, I am bullish today. Hell no... We could just as well take a king size dive today. Be on you toes, buy pressure is close to nonexistant today.
Good Trading