Blog Archive

Monday, February 8, 2010

Monday

Review:

M60 MoneySpy has poked itself slightly below the sell line.
Daily MoneySpy remains well below the line

The forks have been our best indicator with no unexpected breakouts.
Persons Pivot have become even more narrow for tomorrow.


The DDF performed beautifully today.


I like this chart. It looks like a big fish coming to grab dinner.
This is the Squeeze Bands. While they are narrowing it does not appear that we are poised for a volatile move just yet, but it could give that signal very soon.


The Euro is at the handle, and could surprise us with a move to the upper tine. The longer period oscillators are in a position to move upward, but the oscillators can and often do remain on the bottom while Price continues to decline. Robert Prechter recently reminded us that wave three declines can be expected to drive the oscillators to the limit and hold them there.

Earlier at 12:00 I said 1.3635 would have us out of this Magenta fork. I have since reconsidered that figure. It would be closer to 1.3580.

If you are short keep an eye on this fork.




12:00 PST

The EUR/USD appears to be turning at the Fork and the M60 Kumo.
But currently the Euro is being squeezed between several Kumos from other periods and the Oscillators are not completely in sync. Price may continue sideways until it reaches the handle.
But considering that this fork originated at 145.74 on January 13, 2010; it would take only a minute shift of the a starting point to cause the handle to touch here and at the low made last Friday.

Not shown on this chart is an upward fork off that Friday low. 1.3635 would insure that fork is not going to take us to the High tine of the Yellow Fork.


11:20 PST

This count fits well with the forks, but I'm not entirely convinced. An Alt count that I keep seeing is that [i] is really wave (3) and (a) is (4), which would mean that we have yet to complete wave (v) of [i].




07:30 PST

Moving withing the fork the SPX continues it's decent
DDF is indicating a Neutral bias for today with points of support and resistance at 1060 and 1067.

We have support at 1045 and 1055 from the Persons Pivots and resistance at 1070 and 1080

Hourly Charts:
MoneySpy is Bullish.

The Ichimoku is Bearish. Price sits between the Tenkan-sen and Kijun-sen which are in a Bearish cross. This indicates a warning to the Bears. Price below the Kumo. The Kijun-sen should offer resistance at 1074.62 should we rally.


Daily Charts:
MoneySpy is remains Bearish for the long term.

The Ichimoku is Bearish. The Tenkan-sen and Kijun-sen are in a Bearish cross. Price also below the Kumo. Kijun-sen has yet to escape the Kumo but the overall indication is Bearish.


The EUR/USD is shown below.
DDF is Neutral and price is at the upper tine of the fork where it is expected to meet resistance.

Below is a DDF chart of FAZ with Andrews Pitchfork


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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