GE Update

First off,  a short reminder of why I bother with GE.  Not only do I own 2016 puts on it at what no doubt will turn out to be a very attractive price, but also because when GE turns down the whole market will.  Not because of GE, not in sympathy with it, but simply because the economy will be in deep recession (depression) due to the collapsing money supply (the credit portion of it at least).  Besides, if my counts for GE are valid then it gives me confidence in other top level market models I am using.

In my previous GE post from Wed, the bottom line was:
"Thus, the GE chart suggests one final little push upward for the markets which will take GE into its 2nd wave around the level of its prior 4th."

 Today that is just what we got and so I am labeling that blue 2.  While I did not show the fib levels on this model, the 38.2 was 26.99 and the double peaks (twin towers?) at wave 2 peaked just one penny short of that value at 26.98.

If my count is right, GE will open in the red and never go positive tomorrow.  In fact, I suspect that the next 7-8 days or more will be mostly red closers.  A gap down just below the bottom of that lower rail tomorrow would pretty much put a stake in the heart of GE.  This would tell the pros "GE's reactor has a containment breach, will economically hurt anyone who buys the shares and economically kill anyone who buys the call options".  All that from a little gap down???

Yep, all that. 

Time will tell and we should know tomorrow very near the open.