Blog Archive

Wednesday, March 31, 2010

Wednesday

16:00 EST

Yesterday we closed with a Bullish Homing Pigeon Pattern, but today's Black Spinning Top did not confirm the pattern's Bullish reversal and leaves the markets without a clue.


The Forks are crossed and I don't see any good signal, but price has worked it's self into a corner.




12:30 EST
I just discovered something that really disturbs me. This is a 60 minute Profit chart and a 60 minute StockCharts.com chart side by side. It appears to me that StockChart.com has inaccurate intraday candlesticks.

Luckily the Daily charts seem to be OK.



11:00 EST
Yesterday the market closed with a Bearish Spinning Top which created a Bearish Doji Star pattern. Confirmation will be required today from any Black Candle.

Currently on the hourly chart we have a Hirami which could indicate a Bullish Reversal. If a White Candle with a top body top over 1171.75 is created now. A Bullish Inside Three Up would then be created. The Bears need a Black Candle this hour.

The Kumo sits below with a flat bottom in the high 1166-1167 area. Should this be violated the Bears will have a chance to turn the market their way. Currently the Kumo appears to be supporting Price.


10:30 EST

DDF - Bearish



Andrews Pitchfork - The Yellow fork is holding
Chart shows day and week Persons Pivots
Hourly DPO and Mobo Bearish
PPS 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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