Thursday, February 2, 2017

Feb. 2017 4.94% model

Looking for gap up Wednesday Mar 1st

Friday closed very O.B. I look for a gap down in the shot term open. Now how over bought are we? Here is a chart of the 4.94% model. As you can see it can come quick or run for a few months like July -Aug 2016.
Not a gap down but in a few minutes it went down.     Here is a shot of the low at 11:15 cross over.
 For Friday i look for a gap down open. Will watch for AM high.

Just keeps climbing. Look for gap down open for Thursday
Looking for an AM high for Wed.
Friday couldn't rally fast enough.
Monday a bonus rally . For Tuesday I look for a gap dn open but an AM H
New highs! Thursday looked like a gap up and it was. Friday looks again like a gap up. It's an AM Low day so we could again rally all day.
 Sure was wrong about Tuesday. Looks to gap down Wed but should be a hi AM day.
I said we would see lower before 2300 SPX still true so far. Money still coming out of bonds. 
Tuesday looks to gap down again. I don't see the bullishness or follow through from Friday.
 Well Friday jobs number was a surprise. Surprised that it didn't take out SPX 2300..
BOP = (Close – Open)/(High – Low)*5   This tells me we at least near a ST high.
Monday is S2B-- Either Fri was the ST high or we see it Monday....!

Update Thursday flat again not very telling. I still look for a correction. Why, earnings are 53% out, and bad earning come last. Fed speak is done. So what is the push higher? I can't think of anything long lasting.
Indicators look for Friday to gap down. I believe we will see 2233 spx/ 2200/ before we see 2300 again

The 1/2 way  point and strong resistance is Spx 2284.10

No matching buy on bottom indicator 2PM ET

Flat day, tried to correct but Apple held it up. Indicator are mixed.
I hope to see us down as the EOM rally has been weak.

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