I post this compilation today from posts on MDA thread for my own benefit and thought process on which to build going forward:
MDA 26,525
<This crash I have been calling for is not going to occur without NDX, SOX IIX and DOT breaking supports. These "initial" supports revolve around 2,480 NDX, 530 SOX, 300 IIX and 610 DOT. Lower supports are posted on MITA.
Meanwhile another one of my "other indices" UTIL is burnt toast 307 support. For the 4 indices above to display characteristics of fear and capitulation, it is going to be the DOW and SPX leading the way next to the crash... if it is to materialize as I have clearly stated. Selling and going into the close below DOW 10,550 and SPX 1,294 will bring capitulation the next market day. That could happen anytime now.>
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MDA 26,527
...I don't know about Eliades window, but my window sets it up for a crash tomorrow--- no later than the end of this month... if it is to occur.>
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MDA 26,534
<heinz, As for tomorrow's window, it ironically is the "last day" to fit in the six weeks after an annular solar eclipse and within five days of a full moon.
As for the end of the month, it is my biased opinion that this "rounding top" which has been forming since April in most of the major indices is to be resolved in this window. On the one hand, you have had this internal decaying cancer within the negative breadth of the market and the some indices like TRAN, BKX and now UTIL break down. DOW and SPX have been in this confined trading range and will lead the next leg down of the break. No volume, overhead supply and no legs in any of the latest rallies. No gas left in the tank. Finally, techs almost always are the last to fall in a bull market. Techs being the latest information age stocks within SOX, DOT, IIX and NDX.
If I am wrong and we don't crash within this period, it could set the stage of support for the next leg up that could last into late spring and DOW 12,000 and NDX 2,800 and beyond.
We could certainly crash in October, but I believed the "break" if it occurs, will be resolved by then.
I reserve the right to be wrong.>
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MDA 26,542
<LG, NDX is putting up one hell of a fight. Attempting to bottom after interday low of 2,489. If you see a late sell-off going into the bell below 2,480 NDX, 305 IIX and 617.5 DOT... it will set up real bad for tomorrow, imho.>
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MDA 26,544
<Looks like the boys are getting an early start heading for the exits. Have you noticed that the TRAN is now at levels not seen since Dec 16, when the DOW was around 9K? NDX is now at the lows 2,485. DOW 10,550 test on deck.
THAR SHE BLOWS>
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MDA 26,546
<bobby, the net selling is gona flame the fires in the last 40 minutes. We got further to go.
NDX has just blown right thru 2,480 like a knife thru butter.>
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MDA 26,556
<Here is the moment of truth and the tale of the tape (watch the last 15 minutes):
If you see a late sell-off going into the bell below 2,480 NDX, 305 IIX and 617.5 DOT... it will set up real bad for tomorrow, imho.>
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MDA 26,559
Matt,
<Maybe the broader market has already been in a bear market and the indices are just playing catch up.>.
I have been echoing this sentiment for some time and am in total agreement with your statement.>
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MDA 26,561
<James, Ditto. You and I have been on the same page as far as market breadth is concerned.>
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MDA 26,572
<We are smack on these levels. NDX 2480 is toast. DOT 617.5 we are on it. And Considering the IIX was briefly positive at over 310.25 with an hour to go only to give it up and finish near the lows down 1.3% dictates tomorrow to be quite ugly and volatile.
...<If you see a late sell-off going into the bell below 2,480 NDX, 305 IIX and 617.5 DOT (not 317.5 DOT)... it will set up real bad for tomorrow, imho.>...
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I am not the least bit concerned that the DOW bounced off 10,551 and SPX off 1,302. Fact is, the market was not going further south without full participation from NDX, DOT, IIX and SOX which finished down 3%. Tomorrow will be a trip in itself.>
Best Regards, J.T. |
