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Thursday, December 24, 2009

Thursday

08:00 PST
I've been warning of the pressure that has been building. See that line of Green Dots followed by that Red Dot? The Squeeze chart just indicated that the move has begun.

Here's an example of two other times the Daily Squeeze Chart indicated a large move. In this chart the Squeeze chart is the yellow and Blue line. Yellow once again indicates building pressure. Notice that it does not indicate direction.



07:15 PST
I projected the Red fork yesterday. If a turn is to happen, this is a likely path. As I'm writing this the market has surpassed my mark by about one point.
Todays range will probably be between R2 at 1125 and the Pivot at 1119.

Below is the EUR/USD. As predicted we did make a bottom and have come close to the top of this fork. Keep an eye on this as it may break out and make a new uptrend if the SPX is in fact going to new highs.




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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