Blog Archive

Thursday, August 5, 2010

Thursday

Here's something interesting to think about,
I might propose this as a game next time I'm at a party.


Market recap:

Thursday leaves us pondering the indecision of the market. Closing with a White Doji another Harami is created. Just as the confirmation of one Harami expires we are left with a second.
The Doji has only a 50% chance of reversal and a 51% chance of continuation, and the Harami also has only a 50/50 chance of reversal; so until confirmed there is no real indication of tomorrow's direction from the Doji or the Harami alone.



If you have followed my posts throughout the day you know the score. I came within a $1.62 of picking the top. I missed the close by a long shot, but I'm hoping to settle that score tomorrow.

But I expect Price to fall abruptly. The Bollinger Bands have crosses the Keltner Channels and the market pressure is building. There are weaknesses in the Daily and the Hourly Kumos below near 1109 and 1100 tomorrow, which may open the door to the 950 area which I'm predicting by the end of August. (Keep in mind I suck at timing the market, but have a great track record of calling specific levels).

You may have noticed that I've stepped up the frequency of my updates. That's because we have entered a realm of volatility. That may not seem apparent right now, but you will remember my words if not by Friday's end then sometime early next week. I've been wrong before but I can't see the market breaking to the upside, and I'll say it again it is going to break!
1088, 1040, and 1000 will be scenic points of interest along the way.

If I'm wrong the Bulls will be rolling with laughter, as the market should break hard one way or the other.


// End of market recap for 2010.08.05 //


14:20 ET
Let the games begin!


12:35 ET



11:28 ET
These white forks are important right now.
My alerts are set to 1119.55 - 1123.48

11:11 ET
Hourly Indicators are Bearish
Volatility Ahead!

11:05 ET
Volatile markets should be expected very soon.



10:47 ET
DDF is Neutral.
Still within the converging forks.

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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