Area51, I have not changed my position since my last post on Sept 3rd (MITA 652):
<Toni, It's employment number day. Last three years this day has been down. But it has been followed by strong Tuesdays first day back after labor day. These are major trigger supports that need to hold on a close in the next three to five trading days in order to avoid a crash or set up for the crash later this month. Failure to hold these levels will bring capitulation and opportunity;
DOW 10,550
UTIL 307
TRAN 3,012
BKX 765
SPX 1,294
RUT 412
NDX 2,328
SOX 509
IIX 273
If we rally out of the gate, these numbers may not come into play until one to two weeks out.
Well, today is the 15th and within this two week parameter. I have been harping on the UTIL INDEX needing 2 consecutive closes below 313. We have had 4 previous attempts to close 2X below this level since April 30th. On this 5th attempt, CPI friendly #'s again put the index back above 315 but they couldn't hold the sheer weight of selling into the bell. We broke 313. 307 will be tested within two days.
As for the other indices. I was the first to put out 765 BKX and you can see this is burnt toast. The boys smells the fire in the air now.
TRAN will be the next to bite the bullet at 3,012 support. DOW and SPX will go in tandem.
I have now marked Monday, September 20th as the highest probability crash day of the month followed by the 21st and 22nd (Tuesday and Wednesday). Regardless, the rest of September is highly dangerous as there will be no more serious economic data for the market to rally around and earnings don't begin to commence until mid-October.
We are ultimately going back to test support where we started at the beginning of the year on the DOW at 9,181.
this mr. somebody was shunned all along and even in that moment of truth I was called friend when all the there-after whether absent or aboard SI I have been played like a dead fish. You can tuna piano but you can't tuna fish. The truth is near.
Warm Regards, J.T.
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