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« Mother Market Setting a Trap | Main | Mother Market Springing the Trap »

Friday, June 25, 2010

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Ted

Market sentiment: 2010-06-27 Bears= 64% bulls= 35%

Steven_737

just what the market needs...

USS Carrier Harry Truman Now Officially Just Off Iran, As Israel Allegedly Plotting An Imminent Tehran Raid

http://www.zerohedge.com/article/uss-carrier-harry-truman-now-officially-just-iran-israel-allegedly-plotting-imminent-tehran-

if this is credible, will the market rally?

Steven_737

maybe someone is worried...

http://www.zerohedge.com/article/curious-move-united-states-oil-fund-uso

:)

Hockthefarm

Yelnick:

We seem to be entering your summer of lost souls right on schedule. YTD, Dent has been calling it well, especially if we run up into mid July.

Key question I am mulling is whether or not the indexes can hold up until Septemeber. I have some doubts. Here is Bill McLaren's latest. Kinda sitting on the fence imo:

http://www.safehaven.com/article/17302/cnbc-squawkbox-europe

Cheers and keep up the great blog,
Hock

Muang Chutzu

McClellan interview from this weekend

http://audio.marketviews.tv/audiofiles/synd/mcclellan12.mp3

usdollar

I believe the R shoulder top is in, and that we will see a much faster down movement with ~8300 around the end of July. I know that I am promoting the webbot Clif High's work with tipping points. They have been astonishing right, not as Bradley, where you get 5000 turn dates in a year:). Clif High Webbot has tipping points, 9/11, 2001, October 7, 2008, May 6 2010, July 12, 2010, Nov 8-11, 2010 (WW III will possibly start here Israel attacks Iran). If that happens, I am sure that Dow 8000 will hold up nicely.

trendlines

Hello Yelnick,

Here's my SPX view:
http://trendlines618.blogspot.com/2010/06/s-short-term-stiff-resistance-around.html
And while you are at it, Hang Seng Index looking bullish:
http://trendlines618.blogspot.com/2010/06/hang-seng-index-trendline-watch.html

Mr. Panic

Sorry, the Puetz crash window can start with lunar eclipse before or after a solar eclipse. It's just that the lunar eclipse after the solar eclipse is the more common starting point. One only needs to look at June 2002; there were two lunar eclipses surrounding the solar eclipse of mid June 2002 (June 14???) One in late May; the other in late June??? The market started to fall precipitously from late May into July and most of the decline had already occurred by late June. I already have mentioned previously how June 3,2002 was an important top but the decline had already begun by then. The May 31st close was the last high/secondary top before the freefall began.
And this lunar eclipse will be marking the grand cross T square/ Cardinal Climax which according to many astrologers, most especially Arch Crawford, is one of the most unnerving alignments of the past few thousand years. Sorry I am not an astrology expert so I have to rely on the expertise of Arch Crawfords and others and I have followed Crawford long enough to know that he knows what he is doing.

Mr. Panic

Once it looked like the close below SP1079 was going to happen, I'm sure the big boys started dumping shares in the last minute. Someone mentioned that there was heavy selling in the last minute on the red pill site. Or they could have been dumping to make sure it closed below 1079. Now they need a gap down open but if it gaps down it's going to be one heck of a gap down because that many traders waiting for a gap open lower are going to be surely late to the party as Mr.Market doesn't give them a good entry point.

Hockthefarm

Mr. P:

I will grant you one thing on the astro front. Years ago as a student, I worked as a doorman at a fairly posh hotel.

Every once in awhile the front desk crew at the hotel would ask me if there was a full moon outside. They would ask this based on the number of loonies checking in to the hotel that night. I'd say they were right 70 to 80 percent of the time.

But apart from that, I'm fairly dubious. I think it is the other way around. The good market gurus go out and find astro stuff that reflects their current feelings of the market. Not the other way around.

Hock

BZX

Moon cycles can be visually tracked using either Welles Wilder's Delta or Steve Copan's Matrix.

For now the Lunar Delta Matrix looks constructively be bullish into mid-July as Medium Point #1 should be a high.

More info here on Delta Lunar cycles
http://www.stocks-trading-strategy-and-pattern.com/turning-points.html

BZX

Matrix chart has recent late June blue moon as a #12 low.

Andre Gratian's cycles has late June as a 17 week low, some kind of bounce is due here.

http://www.safehaven.com/article/17219/turning-points


Account Deleted

Nasdaq composite index support zone.
http://niftychartsandpatterns.blogspot.com/2010/06/nasdaq-composite-index-support-zone.html

nspolar

Any gold top callers?

I expected the top next week.

Was today it?

What about it Mama?

ns

Mr. Panic

Gold looks like its topping right now. But I am not following it closely or too interested in it at the moment. Eventually it should drop hard with everything......
It looks like the SP did not gap down at the open so no sell signal based on that qualifier. Doesn't mean the selloff can't continue. I am guessing that another weekly close below 1079 or last week's close would be a sell signal too albeit probably a late one.

Mamma Boom Boom

ns, IMO gold has been in a topping process for 6 weeks.

Account Deleted

Fate of the TRIANGLE IN DOW JONES will be decided by the channel in EUR/USD
http://niftychartsandpatterns.blogspot.com/2010/06/dow-jones-triangle-and-eurusd-channel.html

nspolar

DG,

corrective, impulse like, or impulse?

http://www.kitco.com/charts/livesilver.html

silva off the top.

ns

Bird

GLD: I see some correspondence for a top off the Feb 2010 low, but not longer term off the 2008 low. NEM as a proxy also doesn't appear to be an all-clear to head south.

Roger D.

Gold is topping, the Dow is completeing a weak "c" up and the USD has bottomed most likely.

RD

Whitebear

Webbots??? How about its infamous crash call for Oct 25 2008? The market went on up from Oct 25 till May!!! Keep sprouting out tipping points and it will eventually get one right.

Steven_737

Webbots???


hahaha...

yeah, like when Cliff webbot predicted the earthquake in southeast USA and then the quake happened in Asia !!!

he did say though that he got the latitude correctly...


:)

Steven_737

Hello Duncan;

any forecast from Yves and his liquidity model?

cheers :)

Mamma Boom Boom

So, do we get that 1061, tomorrow?

Bird

Ah, so that was a prediction Mamma?

Steven_737

was wondering....

what are those cycles saying anyways ???

coyote: my cycles, not yours!


?????

Mamma Boom Boom

Bird, you forget already?

-------------------------

I assume 1061 will be the absolute bottom, but I have to leave the office. Try it again tomorrow.

Posted by: Mamma Boom Boom | Thursday, June 24, 2010 at 12:38 PM

yelnick

Steven737, Yves' company was bought by MacQuarrie and he is under different rules than before wrt to guestposts. He is pleased with his Treasuries call (rates dropping/bonds up) and also thinks the top is in on stocks

Mamma Boom Boom

>and also thinks the top is in on stocks<

The more the merrier.

Mamma Boom Boom

"Uranus is extremely important to markets right now because it is in conjunction to Jupiter and opposition to Saturn. Jupiter and Saturn pertain to the two dominant emotions influencing the trading and investment community: fear (Saturn), and greed (Jupiter). Uranus with either of these signatures can correlate with extreme price movements in financial markets. This set up could portend excessive speculation and a bubble in financial markets.

And if anything can coincide with a shift in collective psychology, it would be a strong Uranus period. Thus Uranus retrograde on July 5 may reveal an important clue to this cosmic puzzle and how it will manifest in financial markets, as we continue the race to the heart of the Cardinal Climax, July 23-August 8. Then we will be fully engulfed into this new portal, this new reality, asking: How did we get here? and, How do we get back?"

Mr. Panic

It turns out one of the cycles came into play last Thursday but since then we've had two dojis with a higher high on Friday. It could go either way but I'll say the turn was from a high too a low. Really though it's a muted cycle one can't trust. I'v got another one of intermediate level strength due in a couple of days but it could also mean a high where the market suddenly accelerates to the downside like its last incarnation. I'd just say that the trend is still down until the 20 day is penetrated to the upside. There is already a death cross on the New York Stock Exchange and ones will soon be forming on all the indices and of course they are lagging indicators so the markets should be well south when they do cross. Unless the averages miraculously rally 20% over the next few days to prevent those averages from crossing.

Steven_737


sector analysis: why the market cannot start a decent wave 2, to retrace the drop since last Monday 6-21-2010

http://steven737.typepad.com/blog/2010/06/sector-analysis-06282010.html

cheers :)

Bird

Mamma, Din't forget. Thought it was an extreme level that you didn't think would be exceeded. Didn't know you were calling it as something that should get hit.

Bird

So Mamma are you bullish because of astrology?

Steven_737

Duncan;

I would appreciate your comments.

http://steven737.typepad.com/blog/2010/06/es-and-nq-wave-count-6282010.html

take care :)

BZX

WTD equity put/call highest since July 09


Steven_737

ok;

coyote Thansk

:)

yelnick

Steven737, I don't buy the ED or LD counts. An LD needs to converge.

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