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« Implications of the Market Wedge Formation | Main | Morning Market Warnings »

Tuesday, August 10, 2010


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Wave Rust

seems like 2 months since i wrote this ,,,,

""this is a fool bears and bulls correction, so it will probably become a 1-2, 1,2 and surprise everyone

close the gap at 1069 for a perfect overlap and next week, get up to 1115 resistance for touch and go to 1175.
don't marry the bear yet
wave rust

Posted by: Wave Rust | Thursday, July 29, 2010 at 08:27 PM""

the markets just need a plan ,,,,

,,,, so, 1069 is still open and bulls and bears are confused.
the break down for wednesday should be short lived for the bear trap, maybe spx 1101 but probably higher than that.

hopeful bulls won't jump in at the lows, so they'll miss the pop back up to and through 1130, but then will come and push the spx to 1150.

the bull trap opens above 1130 and might close about 1175+

if we all hum 'cucumberbaya' at noon tomorrow, maybe the market will follow that plan, and we will all be rich by labor day.

markets can follow, if barry keeps quiet for a day or two. every time he opens his pandora box to speak, the markets vomit shortly after.

wave rust

Wave Rust


what all the left wingers, the progressives, the NYC bankers and billionaires (both Buffetts) who once pumped money into Barry's campaign, are singing these days about Barry O'bagahammers ,,,,

"If I listen long enough to you,
I'd find a way to believe that it's all true.
Knowing, that you lied, straight-faced,
While I cried.
Still I look to find a reason to believe." as sung by Rod Stewart

Barry has answered the question, "Is it really possible to completely destroy any chance of an economic recovery of a free market economy in recession, in less than 18 months? "

Have wondered what would push over the house of cards in late August (like beginning on the 26th).

Well, look at the calendar ,,,, 24th - last of the big primaries; 25th durables; 26th new and continuing claims ,,,,

then the coop de grass stains, pre-market on the 27th, the GDP revisions !!! ala your JPM posts on GDP reductions.

then the american public learns what "negative growth" means ,,,, the best oxymoron since 'military intelligence'

a worse curse? i can't find one. we all could be crying the blues by christmas.

but i could be wrong too,
but you still can't fade the Fed. how can you fade nada?
thats a nulled proposition.
monetizing bad mortgages with LTD ,,,, how quaint! the perfect mask for halloween 2010.

that rate plunge on the 10 and 5 year today was a mini-september 2008 deja vu. another overture to the symphony of crashing symbols (misspelling intended).

wave rust

no, that rant doesn't make me any better. still pissed in peoria.

i'll still be looking to buy a low tomorrow. :)

Wave Rust

since market lows are characterized by mush fewer posts here, and most are bearish posts near the lows, ,,,, and, posting has really dropped off here in the last few days ,,,, so i guessed it was my turn to 'over post'

if the market wont put in a low, i'll try the "Barry wants to declare marshall law" series of rants.

wave rust


wave, even Michelle has abandoned Barry - on his birthday! Imagine that. The panic seems to be setting into the Obama administration and its supporters. Hillary '12?

Various indicators that I follow suggest the market is topping now, and there is potential for another "Flash Crash" within the next few days, very possibility within this week, targetting Thursday (tomorrow).

Here's what I just posted on Twitter:
== ==
A "fall from grace"?: /
Could trigger another "flash crash":


Duncan, my circle analysis proposed a few days ago pointed to mid-month as a lock out. This may still turn out to be correct. But there are a lot of deep corrections within the move from April down to July, which theoretically could have used up the NN force. For e.g., the 6.21 high was one day shy of a lock out. They are usually on the mark or one day later, so I don't love it but should consider it.

I raise all this because yesterday's high shows some powerful harmony, albeit not via all the rules I follow. Most significantly, the time from 6.21 down to 7.2 x 2.618 gives yesterday's high on the 60 min (DJI). From a circular point of view, and this is why it is very harmonic, the diagonal of a circle, expanded concentrically by 1.618, using that time period (6.21 to 7.2) as its radius exactly hits the high too.

Whether or not the high holds, that is high geometry.

Hank Wernicki

Today's Gap Down Forecast posted yesterday

Wave Rust

Lady of Spain, MiJellO-bama, is doing the same thing that Dem candidates are doing. Barry is political and economic kryptonite.

the koolaid is wearing off.

If hillary does run for the nomination, and i hope she does, it will be the bell tolling for thee, Barry. ,,,, refer to Teddy running in 1980, his brother in 1968, Perot in 1992, and others who ran against their party's sitting prez.

spx 1101 may have been too optimistic.

good luck today. cash is lucky today.

wave rust


wave, with 1101 gone, 1086 will be watched, but 1060 (some say 1057) signals a retest of 1011.



How can anyone so naively place so much emphasis on the President of the United States (as you do) when it comes to the Economy?


mama goes silent

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