Friday

Market Recap:
DDF did a great job of predicting today's bias and the forks held the pattern.
My indicators MoneySpy and the Oracle of Delphi preformed wonderfully.

The market has slipped out of the Bears hands time after time, but I want to make a case for a bearish reversal.

While the Bearish Shooting Star formed this month is not a highly reliable candle it does suggest that prices may be approaching a top.



The weekly candle stick charts turned Bullish on February 19th at 1079. This weeks Long Black Candle confirms the reversal of that move. The meeting tops makes this pattern all the more significant.


Today's Daily Long Black candle stick also confirms a Bearish Reversal for exactly the same reasons.


The Hourly chart closed with a Black Closing Marubozu. This is an extremely Bearish candle. I wish I could say the weekly candle were also a Black Closing Marubozu, but technically it does have a very small tail.


With several time frames coming into agreement I feel quite strongly that the market has peaked. Some may feel that today's, Long Black Candle still requires further confirmation but if the market moves below today's close on Monday that confirmation will certainly be complete.

And finally A LARGE OVERVIEW!

12:00 EST
Once again I forgot to screen capture the candlestick chart last night, so this shows today's progress too.
Yesterday's White Opening Marubozu was exactly what the Bulls needed to confirm the Bullish Harami. The Candle stickchart has us long, but if today continues downward the Bears may get yet one more chance to take the Bull by the horns.


11:30 EST

DDF is Bearish


Sorry I got involved with writing more code for my Oracle Of Delphi study.
As you can see I've added a Standard deviation cloud to the study. The Cyan/Yellow arrows show where the Oracle crosses the standard deviation of 0.8 while the red and green show where it crosses the zero line. I'm still fine tuning the parameters but it's looking very good so far.

5 MinuteSPX

Hourly SPX

Daily SPX

Analysis presented on this Blog has only informational, and educational purpose, and does not represent a proposal for buying or selling currency contracts.