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Wednesday, January 27, 2010


23:40 PST
EUR/USD Bullish fork on the 1 minute chart.
No change yet to the M60 chart, but it's on the top tine, so it needs to be watched.

Day in Review:
Let me start off with the Euro. The short position initiated yesterday was technically stopped out when price ran over my stop by 3 pips. I jumped right back in as it was right on the top tine.

So far the fork has been a perfect guide.
The DDF performed well today. The forecast was for a Neutral Bias and price did stay within the DDF range for most of the day. Toward the end of the day the range expanded into the Persons Pivot Range.

MoneySpy, WoodiesCCI and PPS all turned Bullish. I've drawn a Time Line on the /ES where all the indicators gave a buy signal. This happened in around 3AM my time and I did not see it until just now.
The SPX shows quite a different story.

I'm pleased with the forecast as price did do pretty much what I said this morning.

12:13 PST
Quite the hiccup! It appears to me that Price may have just put in a short term bottom and may rally to the top of the yellow fork.

This would fit nicely with a 0.618 wave 2 retrace.
MoneySpy is indicating Bullish as is PPS.
Squeeze is indicating that a volatile move should be expected in the near furure
Woodies CCI is in a bullish trend.

10:50 PST
Here are both the ES and the SPX
Following Today's Neutral Forecast

Here are some Andrews Pitchforks of the /ES

Daily Wide View

Hourly Wide View

Hourly Close View

7:30 PST
On the hourly charts:
The Ichimoku remains Bearish with resistance from the M60 Tenkan-sen at 1097.
Woodies CCI remains in a strong downward tend.
MoneySpy is oscillating over the zero line

On the Daily Charts MoneySpy and Woodies CCI remain Bearish, but both are indicating that a short term low may have or will be forming very soon.

Having entered the Daily Kumo we now have support at 1067 and resistance at 1097.

According to the DDF, today should have a Neutral Bias with a range of 1085 to 1094
Persons Pivots is indicating a possible range of 1080 to 1100 today.

My placement of the Andrews Pitchfork continues to designate the trend and it's boundaries. With warnings from CCI and MoneySpy we need to keep an eye on those tines.

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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