Tuesday, September 7, 2010
I'll make this short. I have been busy with work today, and have not spent a lot of time pouring over the indicators, MAs, etcetera. As I mentioned this morning Twitter requires a lot less effort and I hope you will join me there during the day as I expect to be using it a lot more for updates.
Even though the 2007 fork held Price today I’ll admit I’m just a little surprised by the depth of the reversal today. I had expected the pullback to be contained by the Green Upward fork, because it’s unusual for a fork to not have symmetry. Today Price fell right through the lower tine with hardly a hiccup, but I currently don’t see another way to place that fork.
It appears right now that the Bears will be able to test the 1040 area once again. Currently tonight the e-mini is at a level previously marked as support. There is a possibility of Price switching to the top channel.
// end of market recap for 2010.09.07 //
It takes five times longer to make a post on BlogSpot as it does on Twitter, so please join me on Twitter for updates.
Looks like the Bears will try to hold the 2007 fork.
This Blog has only informational, and educational purpose, and does not represent a proposal for buying or selling contracts, equities or currency.
Posted by Robert Campbell at 08:12