Blog Archive

Sunday, October 17, 2010

Monday

My feeling is we have to let the last bull blow his wad which will push the SPX to about 1200 before all the long plays are all in. But once weakness beginnings to show it's hand the, cascade will begin



It's been awhile since I've shown the Kagi and Renko charts.
This chart also shows the Ichimoku Kumo. Looks like 1120 will be a support.
The Kagi charts are showing 1167 - 1171 as support, and the stochastic appears to be overbought






Two and a half hours after the close the e-mini is down off the +2 σ (+2.0 Sigma or +2 Standard Deviations from the 20MA).
Currently between the 20MA and the -1 σ. The light gray area is the Keltner Channel engulfing the Bollinger Bands. This is referred to as a Squeeze, and as predicted, there was a volatile and forceful move which terminated with a swing towards μ after breaking the +2 σ as is often the case. It is not unusual for price to continue all the way to -2 σ.

I've also been noticing that price will often traverse between two Sigmas and then move on only to find two more to traverse between.




This next chart was posted on Sunday. It shows my prediction.


Price hit the first Fibonacci level today.
The Candles remain long after the Bearish Harami failed to recieve confirmation.

02:45 ET
This Blog has only informational, and educational purpose, and does not represent a proposal for buying or selling contracts, equities or currency.

No comments:

Post a Comment

Today's Feature

PALESTINE ON THE WORLD'S ANCIENT MAPS

The Palestine which "never existed" appeared on ancient maps, in atlases, encyclopedias and bibles worldwide.

Posted by The International Palestine Network - Gaza on Sunday, February 21, 2016