Blog Archive

Monday, June 28, 2010

Monday

Market recap:
Did I call it or what? Please let me quote myself.

"The SPX will most likely open down, with a an upward reversal near 1072 after hitting the yellow tine. The target remains the green tine with a maximum expected high of 1085"

Well you guys were quite as church mice today, but I'll tell you what's what anyhow.
Don't you ever have an opinion, or are you just too unsure of yourself to put it in writing?

Candle sticks failed to confirm Friday's White Spinning Top - Bullish Harami.
The forks well you can see that for yourself. Price pushed itself into a corner and slighly broke the bottom tine right at last few minutes. The Squeezer is squeezin!

The Oracle spoke and words of red came forth,
Moneyspy infiltrated and returned with top secret info of a Bearish conspiracy.
Smoothy agrees. She quietly whispered "sell at 1078" to me.
Standard deviation held out till 1074.53, He overheard what Smoothy said and caved in.

So the gangs all short at the close.
All bets are off if it gaps up at the open. That Harami could still come back with a bite.

// __________________________________________________ //


15:00 The Oracle is becoming even more bullish
Does anyone think the green fork need a slight upward adjustment?

14:30
it's getting tighter!
The Oracle remains Green
that's a Cyan Arrow

14:00
Trapped in a corner. It's gotta go soon!
I'll let you know when I see a Yellow or Cyan Arrow on the Oracle

12:30
The /ES is looking very interesting. Afloat inside the Hourly Kumo, and setting up for a volatile Squeeze. It's clearly a battle over the green and yellow tines.


12:15
My target is the red oval, but this may be as close to the green tine as it gets today. Price has been rejected by the 255MA. Nice Doji!



My Smoothy indicator is on the verge of a sell signal. My Oracle is warning of a sell. PPS is still bearish. MoneySpy is bearish


11:00
It was looking iffy for a while this morning, but it looks like price has bounced off the yellow tine and is headed toward the green tine.
The indicators have turned Bullish. The 255MA is just above at 1082. This may cause some hesitation.

Currently Price is at the top of the DDF range. I've drawn a couple of new forks that may bring Price back to the Yellow tine. My take on the morning is that pressure is building and we are setting up for a volatile move. Calling this one right has become difficult as both sides are tugging the market. A turn back down off the 255 MA could send the market below the yellow tine. As I said earlier, this would result in a significant fall.

Eventually I believe 945 will be seen but getting there may prove to be an adventure.

10:30
10:00
SPX - MoneySpy on the teetering on the edge of bearish.
/ES - finding support at the red fork

09:50
The /ES and the SPX are showing different indications.
The yellow fork is important to both


09:26 ET

Monday may turn out to be a day of high volatility.
Watch to see if the yellow fork is broken or if Price climbs outside the green fork

My forecast for the SPX has been that Price bounces up off the 1073 area. If that area is broken 1061 will be today's target

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

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