thursday theatre, page-173

loki,

Actually chances are I'll be wrong here but I've got a feeling this afternoon/tonight may well be a decent fall as we start our break down to new lows.

The reason i say this is the triangles on all the major markets plus the jpy/usd all seem to be meeting their apex today. So I'm expecting the breakouts to come between now and then.

This would also be consistent with IMO the Nikkei's breakdown yesterday - the Nikkei led all the markets in breaking down initially 1-2 days before the European then US/XAO/Asia markets.

Also, the Nikkei looks weak holding its bounce from yesterday and also the JPY is holding just outside its uptrend line from its 112 low. IMO we may see JPY hit 115 and Nikkei below 16000 this afternoon.

I also see an ascending triangle over the last few days on the Hang Seng which has about 1 hour until its apex so expecting this will break down very soon. Plus XAO dump IMO is coming with close 6220 or 6200.

So maybe we'll see XAO, Hang Seng, Nikkei and JPY all move sometime between now and 4PM.

Another factor is putcall ratio before Dow yesterday was highest 4 2mths. Despite reducing it 2 a lowish 1.37 last night with a break out of a short term downward channel, the bulls didnt get very far at all. So I cant see any strength tonight via shortcovering. Also, the Dow uptrend line is only about 10-15pts below.

I've been wrong many times so just MO.