Blog Archive

Tuesday, October 27, 2009


12:02 Update
This is the hourly. The Ichimoku has the Tenkan-sen and Kijun-sen tied at 1063.38 and the price is just pennies away. MoneySpy has issued a buy on the M30 and the M60 looks like it may give a buy very soon. The heavy blue line at 1053 is where the Weekly Kumo sits. Notice the resistance above from the M60 Kumo. We may fall into this range for a while as both are flat Kumos. But with the major trend down I still side with the Bears on a longer outlook.

11:21 PST Update
Watch this 5 minute EUR/USD. If it breaks above the Kumo the SPX will follow higher.

11:00 PST Update
This is the Weekly with MoneySpy and Ichimoku.
MoneySpy may have peaked
Ichimoku is bullish but in danger of breaking the 1053 Kumo top. This will once again be major support. The Tenkan-sen will also provide support at 1048

10:42 PST Update:
The hourly MoneySpy has gone well into sell.
Sometimes I think I should keep my commentary to myself and just let you look at the charts. I'll admit I'd like to see this go up so that I can add to my position, and it often puts a bias on my thinking. But here's what I'd like to point out. We came close the the bottom of this small channel twice and did not break through. Also there is a divergence from the bottoms of the last two dips. This may indicate a reversal of some degree right about here.
I apologize if this seems to complictate the message.

09:00 Update
This chart may hold the key to todays SPX. The 5 minute EUR/USD is about to go Bullish. At least it's very close and the Kumo is weak. This may be all it takes to send the SPX up also.
Above is the M60 Ichimoku chart of the /es. Tenkan-sen and Kijun-sen are in a bearish cross and below the Kumo along with the price and the Chikou. This is all bearish. But the price is attempting to cross the Tenkan-sen. Resistance lays above from a flat Kijun-sen and a thin Kumo which may not offer much resistance.

With Stochastics wavering in the mid-chart it appears that this bearish chart is not all that strong.

The last two charts show MoneySpy, DMI and Stochastics. The daily MarketSpy is bearish and the hourly is on the brink of going there too. But one thing I've learned about MoneySpy is that the signal will often ring back and forth across the Buy/Sell line. I'm just saying that until it crosses it's still Bullish.

Daily DMI is close to going Bearish

Even though the technical signals all look bearish my gut feeling is that we will get a bounce off the trend line.

Analysis presented on this Blog has only informational, and educational purpose, and does not represent a proposal for buying or selling currency contracts.

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