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Tuesday, May 11, 2010

Tuesday

Correction:
I said the Daily Kumo was offering resistance. I should have said support. Only the hourly is offering resistance

Market Recap:

DDF was right on today.

The Bulls needed to confirm yesterday's White Opening Marubozu, but only managed a Black Doji. Now both sides are given another chance to fumble or bring this thing home.

The Ichimoku shows Kumo resistance on both the Hourly and the Daily charts.

My indicators remain Bullish on the Daily, but the hourly is Bearish. My guess is that Price finds it's way down the to bottom tine of the Yellow Fork.

Persons Pivots shows a range of 1143 to 1181 tomorrow which also fits the Andrews Pitchforks.

In summary I'm Bearish for the morning or until Price hits the Yellow Fork and very Bearish if the Green Handle is taken out.



12:00 EST

DDF has a Neutral bias today

Hourly E-mini with VWAP and Ichimoku
Daily SPX Indicators




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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