I commence with my gratitude to The Ultimate Knower
The Big Question?
I am being asked that what if, the market gaps above the SPX $1,299 level (takes out my stop for short trade) and stays above the level, as my pre-requisite for reversal to the upside.
Then I have already stated the time cycle is coming in on July 1st for change in trend, which I was expecting to be low, but if the markets goes higher on Wednesday and takes out the stops and trade and closes above (without making any doji bar, the indecision bar) then market shall continue its rally till 07/1 and 07/05., till July 4th weekend. Then a reversal of the trend shall occur to start the 2nd leg down. I assume that market going higher shall stall at 61.8% (66.66% for DJI) or 70.7% (for NASDAQ) and that would coincide with the CIT of July 4th weekend.
THE MOST ACCURATE FORECASTING OF FINANCIAL MARKETS
http://trade-in-harmony.blogspot.com/
I guess the 'big boys' have the keep the markets up till tomorrow so their balance sheets for this quarter look good. Also, as of tomorrow the Feds are no longer buying US Treasuries(QE2) ends. I wonder who will now? Could be devastating for the markets.
I agree with you that the markets will go down hard.
karim.
Sir,
Thank you once again for a great commentary! Per my humble analysis, I too think that the CIT will come early next week. One may note that this is also the end of quarter "window dressing" week, so some buying is to be expected. Like you predicted, both BIDU and NFLX are stalling even though market went up today. Could you please explain the TECHNICAL reasons why you thought that NFLX and BIDU would top out today? If I am asking too much, I humbly apologize in advance!
Thank you and bless you for your fantastic generosity in sharing your knowledge and expertise!
BDP
There is not any technical reason for BIDU or NFLX
They follow certain time cycles, which runs into their DNA.
Sir,
Thanks for your response. Please pardon my ignorance, but what does DNA stand for? I don't mean to be irreverent but to me DNA = DeoxyriboNucleicAcid (from genetics).
Thanks in advance for your response!
BDP
Dear BDP
I use the term DNA borrowed from medicine, that DNA is basis of all of all of the formation of the creations.
DNA in my analysis means that each commodity or stock acts in a certain fashion pertaining to this individual equity or commodity. It shall reverse always at certain time cycle or price cycle. It is distinctive and regardless of what happens around it. (whether market is up or down)
Sir,
Thanks for sharing your expertise.
Is your comments on gold & silver still valid?
Some gurus predict it would go up to $5000 in gold and $200 in silver, that seem impossible.
What's your long term views?
clarence
Sir,
Thanks for the explanation. I certainly appreciate your patience and kindness in your detailed response!
Thank you and bless you!
BDP