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Monday, July 19, 2010

Monday



Market recap:
Today's White Spinning Top created a Bullish Harami. Confirmation from a second White Candle is required. The immediate target is the top yellow tine. Should this tine be broken then higher prices are in order.

I apologize, but I'm too tired to be writing this tonight.
Draw your Andrew's Pitchforks , watch the Persons Pivots, and use Fibonacci levels to draw a conclusion.

Currently Price is following the Weekly Kumo, and is adrift within the Hourly Kumo. The Daily Kumo may be our target. But we are at the top Weekly Pivot and the handle of the yellow pitchfork. That's a lot of resistance at this 1075 level.

I've left my big red oval from 7/9/2010 on the chart just to remind myself of that prediction. Look at where we have been since then and how close we are getting to it.

My indicators are mixed but mostly the Daily charts are mostly Bearish and the hourly bullish. But it's difficult to say right now since they are mixed. Generally I would ponder these charts and come to some conclusion, but I've been physically working all day, and I'm beat, so this is a lousy recap of the market.

// End of market recap 2010.07.19 //

13:00 ET
A slightly higher target (red oval)

Hanging out between the clouds.
There is a weakness in the Hourly Kumo near 1053-1057. I don't favor breaking that but it would be terrific for the Bears if we did. My best guess is a move up to the 1070 area today.

I'm not sure if I will be around today. I have sub-contractors to meet with, and work to do.


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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