Friday, May 23, 2014

Counting days in QQQs

Since I floated the idea that SPX and QQQs/NDX had to make another and final high (see the “Sorry” essay from Monday) in May at the latest I’ve been trying to further refining the date.  Here’s some square of 9 logic applied to a ‘broadening formation’ formed in QQQs.  First the chart of QQQs that measures five intervals each beginning at the start of the first wave of the broadening, December 13, 2013.  

Cumulative calendar day intervals of 18, 52, 82 and 123 describe the highs and lows of the proposed broadening formation.  The 4 blue vectors on the following square of 9 are those 4 intervals.

Seems a little too ‘co axial’ to be other than some “structure” in the arrangement of time.  Given that we are now 39 calendar days since the last low touch of the bottom boundary on April 15, 2014, the cumulative days is at least 123 + 39 = 162.  Heck, there are only 8 cells left representing May dates.  What are some So9 potential dates next week that would fit the previously proposed required final May high?
I’d propose cell 165 or 170 which are the red vectors on the So9.  Cell 165 would translate to December 13, 2014 + 165 calendar days or Tuesday May 27.  As it turns out, cell 165 is pretty dead on 225 degrees (5 units of 45*) from cell 18 or the first low.  It doesn’t seem so logically related to the cluster of blue vectors representing the other dates.  Maybe 30 degrees?  Last week I’d posted on a board that I liked May 27, but seeing that co axial cluster, I’m not so sure.
Now, cell 170 looks pretty close to the cluster making it nearly co axial.  Cell 170 is Sunday, June 1.  Yeah, it’s a Sunday, no market on Sunday.  But who’s to say had the market been open on Sunday the high would not then have occurred?  Time doesn’t stop because the market does.
And that brings up the same issue again but on a larger scale because several of those intervals begin or end on a Monday or Friday.  I’d argue you can ‘jiggle’ around those Monday and Friday dates making them Saturday or Sunday as you might ‘think’ the markets would have wished them.  Perhaps that cluster might be tighter if I tried to optimize better.  There’s only so much jiggling you can do and I don’t think it’ll change the perception.
I like Friday, May 30 (the last trading day before cell 170, Sunday June 1), but I’m not the one that counts.  If QQQs prints a highest close since 2009 and highest intraday before then, I’ll be watching my stops.
Jim

Note: I haven’t checked but SPX’ is in a similar but contracting formation and the high low timing appears to be very similar. 
Note 2: The green vector on the chart is a "Wolfewave" price objective.  If you want some low challenge technical study check out Wolfewaves.  I've seen them work before.  And this particular green vector fits nicely with the upper boundary of broadening, Fib levels and the proposed dates of May 27 and May 30.

1 comment:

  1. On 5/22/2014 QQQ calls expiring May 30 strike 91 could have been purchased for .06 at ask.

    Jim

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