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Sunday, June 27, 2010


02:16 ET
The indicators are saying down. If the yellow fork is broken the red fork lays below. After that there is only the Chikou support near 1040.

01:45 ET
Price has found resistance at the bottom of the Kumo. I expect Price may still break the bottom, and turn at the stronger area near the top of the Kumo.

Either way, 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. Breaking the green fork beyond that level will send Price toward a new target in the 1105 - 1115 range.

Watch for the yellow and red forks to be broken. Breaking 1065 /ES will send the market much lower.
The colors have been changed to agree with those found on the SPX charts from Friday

00:50 ET
/ES - On course to the upper tine

13:00 ET

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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