Ord Hi Everyone 
 Gary_F tim is back 
 Gary_F please get charts 
 mikeyg jim do you think we finish negative on beans like me........ 
 noob gold weakness might be signalling a equity bottom 
 mikeyg fund running it up t 
 swetz howdy Tim :) 
 mikeyg or if stocks finish good beans  
 mikeyg might find support and run some stops up even more 
 Ord Sorry for the delay my internet went down and I'm on back up "dail up". 
 mikeyg but 
 mikeyg corn lagging 
 mikeyg had been the leader 
 Gary_F please let tim lecture folks for a bit ty 
 Ord The first chart I won't to go over is the S&P 
 Gary_F gold lower 
 Ord It appears a Head and Shoulders pattern formed on the S&P where the Head came in at the Jauuary high. 
 Ord H&D have are symmertic, if the left shoulder have two humps then the Right shoulder should also. 
 Ord This H&D appears to be symmertic and gives confirmation for th pattern. 
 Ord The Neckline was broken (labled with SOS) with a Sign of Strength through support and implies now the Support should become resistance which is near the 80 range on the SPY. 
 Ord Yesterday the market rallied near that level and today the SPY gapped down and hit the 11/21 low. 
 Ord We don't know what the volume will be today but if it comes in lighter then and close above the 11/21 low then a bullish SPring would form and imply a bounce is coming in the market. 
 Ord So the market is sandwiched between resistance near 80 (Neckline) and support (11/21 low).  
 Ord so which will fail the support or resistance? 
 jim support 
 jim was it a quiz? 
 Ord For short term I think the market will hold up and attemtp a rally  
 Ord sorry I had a phone call 
 Ord To help confirm this short term low I would like to see a much of downtick reading tonights that exceed -750. 
 davidb corn getting smacked 
 Ord and have volume at least 10% lighter then the volume that came on 11/21 
  pat left.  
 Ord However major resistanc will be 80 range where I think a signficant sell signal will develoop. 
 davidb new lows in corn 
 Ord The next chart is the ISEE put call ratio 
 davidb srry tim 
 Ord The ISEE put call ratio is the small put call player who position are less then 10 contracts and are only long positions. 
 Ord These players have a nack for picking tops and bottoms pretty well in a contraion way. 
 Ord This morning these guys came at at 188 which shows to much call buyin pressure 
 Ord This ratio usually leads the market my three day and says the market may rally from here from three day before finding the next top. We have history going back to 2006 and usually ISEE is a correct outcome about 90% of the time. 
 Ord I have lablede the last two instances on lthe last chart and the top came in about three days later.  
 Ord If market is near 80 range and volume dries up on the test of the neckline then a sell signal could develop there. 
 Ord This potential Head and Shoulders top has a downside target near 650 range on SPX. 
 Ord Does anyone have any qestions? 
 John great material Mr Ord 
 John trying to digest all of the charts 
 Rick No questions here 
 kent ty Mr. Ord 
 Ord Thanks for having me on Gary and I'll be back next week. 
 Peter thank you Tim 
  pat joined.  
 Ord Have a great weeken guys and gals. 
  Ord left.