Blog Archive

Tuesday, June 22, 2010

Tuesday

Market recap:
If everyday, without fail you gave someone a gift; would you continue if they never said a word?


11:48 ET
We're inside.
Good momentum on the Tenkan-sen/ Kijun-sen cross




11:24

PPS is bearish . We are at the top of the hourly Kumo, but this Kumo is not especially strong. The target destination is still the cyan tine.
14:15 ET
Just a heads up to my regulars. Even though the market has not closed it appears that we will form a Three Outside Down pattern today. This is a highly reliable bearish candle stick pattern.

Also take note of the way Price obeyed the Daily Kumo.

My indicators are also bearish

Daily SPX


13:40 ET

10:30 ET

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

3 comments:

  1. good charts...

    i can't fig. out one thing: On you top most chart, when you said "target attained"...are you expecting a bull rally? or are you expecting a waterfall downward?

    ReplyDelete
  2. Target attained means we arrived at the cyan fork. The sell signal comes when the fork is violated. Any time the tine or handle of a fork is touched by price some hesitation can be expected. Breaking through shows the beginning of a new trend.

    ReplyDelete
  3. thank you Bob...

    when do you mean when you say "fork"? what comprises this fork? is it the two green parallel lines?

    ReplyDelete

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