Blog Archive

Tuesday, December 29, 2009


18:54 PST
Earlier I said 1121 would be the expected low. I'd like the revise that to 1104. Close but not my confirmation of a Bear move.

17:15 PST
I was just looking at Rich's site and must say he has a lot of good stuff to look at. Anyhow he presented a chart on AAPL which made me want to see the volume. Turns out AAPL made a high volume reversal! If AAPL cracks the 189 level it's in serious doodoo.

Rich also presented AMZN and it too made a reversal on significant volume. If it breaks below 130 ther may be trouble for Amazon.

What's fasinating is the chart Rich presented tonight.

If the downside begins to pick up he may be right.

Here's a chart of the Euro. Please pardon my trade info.

16:30 PST
Both of these forks are projections. But I feel confident that they portray the Euro as both center lines follow the market turns, and both are parallel. I realize that there is a sizable gap between them, but if the blue fork is violated I would say the bears have gained control. There is an opportunity to break the Kumo in a weak area, and I believe this is where it is going.

If the Euro passes below the Kumo I would expect the SPX to follow even though there has recently been some separation, I believe the couple will kiss and make up.

Earlier today at 10:00 PST I showed a 4 hour chart with a downward fork that I created several days ago as forecast fork. So far this projected fork has been a good forecast of the EUR/USD.

Currently the E-mini has entered the Kumo. My prediction was that it would float within the Kumo tomorrow. It will probably be a boring day, but let's see what the end of the week brings us.

Tonight and tomorrow will be critical. If the e-mini does not break above 1123.50 the Bears have a very good chance of taking control for a long way down. Breaking the Fork will be the first step toward breaking 1097. Once that barrier is taken down there is very little to stop a free fall

13:00 PST
High Vol reversal. Bears may be taking control. 1097 still my confirmation. Watch the Euro.
Got to go!

12:45 PST
I can't recall when I drew this Magenta Fork and need to get to a job, but look at the way the prediction has panned out. We are crawling up the lower trend line and a break below will be very significant. But the trend continues so it's a cautious time for both Bulls and Bears.

12:00 PST
The downtrend is getting stronger. Breaking the Kumo will be significant. The Kijun-sen is offering resistance. But don't expect a big Bear move tomorrow. 1121 is the expected low.
Very likely a free float in the cloud if the Kumo is entered.

If we bounce off the Kumo 1131 would be the extreme top for tomorrow.

Keep an eye on the Euro. A break below 1.433 to be Bearish.

10:00 PST
Kumo and Persons Pivot offering support.
PPS in sell mode as is MoneySpy.
A break below the top of the Kumo could take us to the bottom Persons Pivot at about 1118.
The EUR/UDS has taken a big hit today, but it turned at the top of the downward Andrews Pitchfork. Keep an eye on this to see what happens if it should bounce back to test that line again at 1.442. Otherwise it looks very bearish.

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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