DDF range fit perfectly within the body of today's White candle which formed a Bullish Harami Described earlier today. (see below).
Tomorrow's High Persons Pivot is 1197. This also fits the price profile. The forks will take a little more time to establish a downward trend but it appears that the market is ready to test those lower tines. March 2009 fork conservatively crosses at 1070 and Feb 2010 is being test right now.
Below are charts of the SPX. Weekly. Daily, and Hourly. Each shows the new study I've been working on for several days. This study is not intended to show overbought/oversold. Instead it is designed to show the bullish and bearish condition of the market. The price changes color as the condition changes. The darker the red or green the more bearish or bullish the condition. As the trend changes the colors shift though the color scale toward yellow and finally white which indicates that the transition is about to happen.
The sub-chart shows the same conditions on a graphic scale. I hope you will spend a few minutes examining the charts to make your own evaluation.
Daily SPX
Weekly SPX
Hourly SPX
15:13 EST
Below are some tentative forks. Also show is a new indicator I'm working on. The scale goes from Very Bullish down to very Bearish with buy and sell point being generated at the zero point crossover. It's a work in progress but the final touches will be fine tuning and presentation bling.
10:45 EST
DDF is Neutral
Yesterdays Black Candle Stick was what the Bears needed. This is the first reversal since the candle stick charts issued a buy signal on April 5th.
Sorry I forgot to get a screen capture last night. Today appears to be forming a Harami which could be a Bullish reversal. But the Harami is a weak reversal signal and must be confirmed by a white candlestick, a large gap up or by a higher close tomorrow.
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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