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Wednesday, August 4, 2010

Wednesday

This chart is new, so don't compare colors from the previous charts of the day.
But I think the Cyan forks have remained the same.
Possibly a last flash in the pan rally to about 1136 before heading down.
The two Cyan forks have come a cross roads, only one can win.

I generally look for symmetry to balance between the sides of the fork, but I'm thinking the symmetry on this green fork may be between the top and bottom range with a connecting rally between the two.

Price has never tested these lines of resistance before, remember this was drawn months ago when Price peaked at 1219.80. Before that it was a forecast fork. Thursday should clear it all up. Forks often push slightly beyond their confines so 1140 even 1150 is not out of the question, but I'm expecting the Kumo to turn Price back right here.

Wednesdays White Candle failed to confirm the Bearish Harami from yesterday. The candles remain long. But today's white candle was not a Long White Candlestick so the Harami can still be validated by a Long Black Candle or a close below today's Low on Thursday..


// End of market recap for 2010.08.04 //

In the chart blow, the magenta line is Persons Pivot. It's the level I'd like to see the Bears need break today. But this fork is indicating that a range of 1110 to 1140 may take more time to work through even if it is broken. Breaking 1109 would be a huge accomplishment.

Well I'll try to be back later, but my fun job calls.



Keep an eye on the Persons Pivots today. Show in the upper left corner.
This may prove to be an interesting day!

Today's DDF with Pivots, (weekly pivots in white)
Yesterdays DDF
DDF is Bullish and it did an extraordinary job of calling the limits yesterday, but if Price breaks the 1109 we may see fireworks. I know we are no where close to 1109, but a bear can dream!

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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