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Wednesday, December 16, 2009


The markets is closed, and the Daily Squeeze continues to build pressure. In the overnight market we did see the Squeeze correctly call the volatility, and we had a strong open on the SPX.

PPS did change from Bullish to bearish during the course of the day as did MoneySpy.
Ichimoku is neutral to bullish, it's sending a strong warning to the Bulls. The /ESH0 is coming into weakness early in the overnight seasion which may once again be taken advantage of by the Bears. My guess is they will find their way through this Span A/Span B cross as shown in the charts earier this morning.
The Andrews Pitchforks have held their boundries, The Bears need to break 1090 to violate the upward fork. the bulls need to take it beyond 1112.

As predicted the Euro continued it's downward slide.There is now strong resistance at 145.92 and currently at 145.29. Breaking above 146.85 would take the Euro above the limiits of the downward fork. I'm wondering if the markets have begun to sync up again.

Morning Update

Well, I did say I drew that downward fork to be trampled by the Bulls. I will admit surprise at the way the market crashed through the flat Kumo. I highlighted the area on the hourly chart.
I've also highlighted the next weak spot in the Kumo. Fibonacci target of 1120is likely, but there continues to be weakness in many indicators. On the Daily /ES The Yellow center line in the TTM Squeeze is warning of a volatile market in the near future. Referring to the Hourly chart you can see how well this indicator works.

This next chart is shows the SPX at the top. PPS, MoneySpy, and the MACD combined with Squeeze on the bottom.
Across the Bottom I have /ESH0 with the same indicators again. Then a one minute ES and finally the Euro with Stochastic
MoneySpy is showing market weakness the PPS is Bullish. TTM_Squeeze is showing low volatility ahead on the hourly chart, but above the Daily chart is showing a large move ahead, and finally the Euro is 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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