Dow is up as foretold. I thought the S&P would be up also, but it's in that hard to read area because of the panic cycle. I think the the S&P has one more up day, and it's over for the Dow. So I'm going to be mostly neutral for Monday, probably with something hedged.
Now, there is a panic cycle for Monday, so the Dow is really unpredictable. After Monday, it should go straight down for 2 days. The S&P has a 3 day movement after whatever happens Monday, which I assume is a high, although that makes today's action unexplainable.
Tomorrow is a high confidence up day, I will be long fairly heavily
Most of these longs I will close out Friday before the close to free up day trade buying power for Monday. Maybe I will be completely out of it by the close. I'll look at my "predict the open" signal.
Monday - It looks like there will be a panic dip in the Dow, I will buy heavily, and it should finish up. If it is a panic move upwards, then no big deal! The point is that it will reverse from the initial move (if the panic cycle plays out)
I will close out and be short as much as possible Tues-Wed. Close positions Wednesday late. Bo Polny has Wednesday as a major crash day, which coincides with this array.
Get in long on Thursday with routine sized investments. Hopefully I will be a millionaire by this day.
This is all subject to change! The only one I know for sure is the first one. I'm not encouraging anyone to follow me. This is mostly for me! I think if I write down my plan, I will remember why I thought the way that I thought.
Let me know if you think I'm reading this right or wrong.
Note on Polny - he is far from perfect, but he's close enough to be interesting
be careful with the being massive short on the day polny says there will be a crash, I remember at least 3 days which he said crash and on those days the market was way up, it seems they are reading his recommendation and do the opposite :)
ReplyDeleteyes I'm aware. This is not just Bo Polny, but he's also coincidentally agreeing with the timing arrays. Together, they give me some good confidence.
DeleteBo also said be short in advance of the 7th and 23, and some days in October that were all great hits. Like I said, he's not perfect, but he's on the right track.
Joe, I'm not understanding these array charts and where the turning points are coming from. What do the blue and pink color bars represent? Also, how the turning points are read. Any advice on how to better understand it?
ReplyDeleteThe blue bars that stand above the neighboring bars are turning points, like today on the Dow and tomorrow on the S&P. Panic cycles really make things hard to predict though. Purple bars are a trend from a turning point, so like S&P is predicted to move for 3 days in the opposite of the turning point on Monday, which I think will be a high.
DeleteAlso, pay lots of attention to the bars and the results and we will get better at reading them.
DeleteThe peak on the 11th for the Dow is why Armstrong said it would be a 3 day reaction after the election.
So far today is way down and that seems to contradict the array.
Good Luck Joe with you plan. May the force be with you. Dont forget us little people when you make your millions!
ReplyDeleteOh, I see. I understand it better now than before. Thank you for explaining Joe
ReplyDelete