These two data numbers today, Might fuel one more higher spike in the SPX.
A.D. is now basiclaly even.. and Put Call Ratio today..seems to be alot of Put buying today..
Old Wall Street adage, Never short a dull market..
Uptrend is basically intact.. wave i of v on 5 minute.. wave ii down and with good auto and truck sales number wave iii of v to the close...with wave iv down then Friday final wave V up...
100% cash..sidelines now..couple of good day trades today with SPXU..but the rest of the day..I'm out..
Plenty of time next week and Friday to enter short.
The main stream media is trying to play out the ISM numbers today was good..Wrong.
The Production side of the equation fell for the first time since May 2009...In August.
Conclusion: Concern and Caution to any business in the manufacturing sector.
I don't understand how Wall Street can even think todays ISM data is good thing..
Its not... It shifts the odds of Greater Contraction going forward..
Sept 7th SPX will be much lower... after President Obama speech which I've read some of the reports that have leaked out.. Its $5,000 Tax credit to any business who hires returning military and the Government will help pay any business who hires a employee. Plus lower payroll taxes..
Tea Party will not even allow this 7 part plan to pass.
Consumer Confidence and Business Confidence are at all time low.. due to our government leaders actions..
President Obama speech will sound sweet and upbeat..but it won't make any difference.. Gold investors will love his 7 part plan.
He wants to cut away all the Green regulations on big business..
Just makes no sense...
Just President way of drawing free air time to get reelected...
SPX 1128 appears to be the highest odds of bottom.
Just depends how hard Wall Street laughs at President Obama Harry Potter Magic Job Plan.
I'm figuring Wall Street is going to laugh alot....The President is just clueless..
1229.29----Spike Higher above Bollinger Bands..
Meets all the requirments for a final wave V/C
I expect Sept 7th + or - to be the next bottom.
President Obama Magic Job Speech 6th Wednesday.
Can't wait so excited to hear it.. Might take notes..
I'm Federal Reserve members will watching President Obama speech.. with great interest..
15 Minute Chart of SPX wedge..
Wall Street cares less about President Obama Speech, President Obama can't any of his 7 part plan threw Congress..its to late in the game..
Election year, Tea Party will not stand for 7 Part plan to increase EEOC programs.. Wall Street is way to sharp for President Obama.. this Speech is just Obama way of trying to regain face for last 3 years of failed policies.
Federal Reserve is running the show, Low interest rates for 2 years.. thats what Wall Street likes.
SPX will sell off into President Obama speech..
Wednesday close was wave iv.. wave v up to 1235..then small wave a-b lower into Friday.. close.
Very small odds that SPX will sell off Friday..it might.. but we will have to wait and see how Thursdays action plays out.
President Obama is lame duck leader now.. his 7 Part boost the economy with millions of jobs is way to late in the game..
Tea Party republicans and the rest of the republicans will railroad any plans by the President..
It will make a good chapter in his book..