Blog Archive

Saturday, September 11, 2010

Saturday

Recap:



Correlations:
The /ES Hourly Kumo is also at 1096.
The /ES Daily Kumo is at 1086, and the Weekly Kumo sits close by.
The Weekly Kijun-sen should provide resistance at 1109.65.
A Daily flat Kijun-sen should attract price downward.

The Hourly SPX Kumo runs parallel to the bottom of the Red Fork.
The Daily SPX Kumo sits at 1089. Flat Kijun-sens on both of these charts will attract price downward.
The Weekly SPX Kumo runs parallel to the March 2009 Fork between 1092 and 1097 which suggests weakness. (My placement of the 2009 fork ends on the 7/1/2010 low at 1010.91 which is of course debatable).


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