Market view

Well here we goooo ! We got the perfect rally I have been mentioning before a move down. The move should take us to 1200-1210 area and since we got there yesterday I think we are about to make the top of Wave "B" up. That means we got wave A down to 1173, then a corrective wave B up to 1207(maybe we gap up today and go lower??) and now we should get the next move down to around 1150. I loaded up shorts at SPX 1207 today a lot, and got out most longs.

Overall IF we dont get down to 1150 in the next week - then we should at least go down to touch 1190-1200 area before going hihger, so overall I will make money on my shorts for at least a pullback. I will take the risk and I dont think IF we go higher then we just go to 1240-1250 or 1300 as everyone expecting now.

Well we COULD see that, but I think everyone know the "xanta rally" is comming and I think most will be wrong here like most were wrong about september crash (including me....)

But overall the markets played out like I thought with a nice good rally up to make a "lower high" and if we should gap up and reach 1210 let it be...

I think over next week we should most likely go down to test 1130-1150 area. What tells me we should see more downside is the WEEKLY chart too on both NASDI, and DOW Jones and every indexes which is about to get a BEARISH signal on stochastics and MACD.

Most people were waiting for a break of 1200 to get long and we did, so everyone got long yesterday and all shorts got wiped out.

So how I see it right now is a strong move down to 1130-1150 comming up next in 1 week or so.

Again we have a HS pattern in AAPL and lots of other stocks I see , which should begin to breakdown from here, which is line with the wave C strong move down.

But again 30 min and 60min chart also showing me that we should go RED very soon, how much ? we dont know yet.....