Morning Audibles 5.13.13 - Let's see what DAY 13 brings...

Today marks 13 trading days since the 1219.80 level on the S&P was reached. It may mean something, it may mean nothing. However, there have been THREE "corrections" since the March '09 lows that went as low as a .09 (fibonacci extension)... They were:

- Last June-July (where the extension hit precisely that number, 956-879)...
- January - Feb (where 1150 retraced to 1044)...
- Now (while the "flash crash" of last Thursday printed down to 1065), the algos caught it within a day, and Fridays trading finished the week on PRECISELY .09, [S&P 1,100]...

Both the June/July, and Jan/Feb "corrections" lasted FIBO DAYS (from high to low). The former lasted 21 days, the latter, 13 days. There was another "minor" correction (back in Oct/Nov) that lasted 8 days...

From the most recent high [1219.8], the "Flash Crash" hit on the 8th day... Moreover, today's trading will be the 5th day since the FLASH CRASH (making it DAY 13)...

Since these patterns have repeated themselves, they bear watching. It would make quite a bit of sense to see trading make an attempt to "disavow" any wave completion within todays stick... But if all goes to hell, it could go to hell quite quickly...

It doesn't matter whether or not anyone "believes" in the voodoo of FIBONACCI sequences... If someone shouts "fire" in a crowded theatre, and even only a few people get scared and start to stampede, then the odds that others will follow starts to grow exponentially...

So enjoy yourselves with DAY 13, on May 13...

Houston... Do we have a problem? Or not? (& doesn't it kind of make you wish that some of THESE GUYS were the ones who could solve the problems with out financial system)?


213 comments:

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BinT/anonymouse said...

Hmmmmmmm....another software problem....I see a dark evil core to this problem with high counts on the blog site.....

Nic said...

EURUSD back on last weeks low. 1 trillion dollars did not buy much of a bounce.

DL said...

I think I recognize the handwriting of the anonymous proctologist @ 4:05.

DL said...

Fingerprint analysis confirms it as well.

BinT said...

It wasn't me...there was a high wind and my asshat stayed anchored...so it couldn't have been me....

It has been blustery here in East Tennessee lately.............

Colin said...

CV, must say that copier video is one of the scarier vids I've ever watched.

BinT said...

Track time...I had a varsity distance runner from one of the universities run with us yesterday....they are out of school....

Felt like an obese turtle.....

bob said...

AP was me, I was hoping that by saying it 3 times that we might get a FI update from LB.

DL said...

Bob @ 5:06

You imposter, you.

CV said...

@Colin

Well now that ahab has informed us that he did, in fact, scan his @ss on the copier machine...

The entire known world should know how to fit him for a hat...

So at least we're narrowing down the SEARCH!

Colin said...

Cant wait to see the first Fox News report that finds every copy machine Obama has ever used in his life...

CV said...

FWIW -

CV thinks we're "going down" tomorrow...

Not necessarily on the OPEN (50-50 on that)... But I think todays action opens the floodgates and says this "correction is going to be AT LEAST 21 days (so that takes you to May 25th - Tuesday after OPEX)...

I'm pegging the 200SMA (down in the 1070's, I think)...

Where is LB?

The 30 year wasn't taken down with much "verve"

The $16 billion 30 Year bond came in at 4.49%, a 3 bps tail to WI.

CV said...

NEW THREAD UP

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