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Thursday, June 3, 2010

Thursday

Market Recap:

DDF was right on with it's Neutral call this morning.

The White Fork and the 200 day MA held today, so I suppose there is something to be happy about. But today's White candle may technically confirm the Bullish reversal... almost looks like a Doji. The Dow is a definite Doji. So I'm not convinced, because this candle shows too much indecision.

The indicators are on the edge of joining the Bull camp, but they appear well bought and the higher it goes the harder it can fall, right?

I did say today would be slow, so I should not have expected more, but dang it, Price is toying with that Cyan line, and I'm ready for a good Bear market to start.

DOW Forks

// ____________________________________________________ //

14:42
Here's what I'm looking at right now. This white fork has been on my charts today and it looks like it may indicate the turning point. It would be very satisfying to turn here and break the Cyan Fork.
Or possibly it will need to be stretched out a little.

13:42 EST
Price just touched 1097.96. Forty two minutes ago I said 1096.24. If we don't turn here I'm loosing my touch. ... (For the record, Price did turn )

13:00 EST
The indicators became fully bought and are now about to issue sell signals. There does not appear to be a lot of pressure, but If the Cyan fork is conquered today the Bears will quickly have the advantage. There is a clouded area on my chart bordered by white lines. These are my alert limits.

The Kumo transition may allow Price to fall through. There is a lot of overhead resistance so I'm leaning this way.

By the way, How did you like that bounce? That's precision.
Next turn 1096.24.


12:23 EST

Price has arrived. Bounce!

Here or at the Cyan fork. If not the Bears Win!

10:50 EST

DDF has a Neutral Bias.
I expect a quite day.
The forks are indicating a rebound off a drop to 1096 during the day.
As I said in last nights market recap it's all about the 200 day MA right now.





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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