What I see here is a bounce off the 60 minute Kumo, and the the Andrews Pitchfork that has been in place since 2/4/2011. My prediction of 1340 still appears to be on target.
The Andrews Pitchforks show me that the e-mini is likely to continue to find support near 1323. 1308 would be the breaking point where the Bears could take control but 1340 is a more likely target before we see lower prices.
10:00 ET
This is in response to the inquires I've had about these two studies.
MoneySpy is available.
In these charts KumoBob Analysis is controlling the price color. Bright Green and Bright Red indicate more certainty whereas magenta and dull green indicate a less strong signal. I've marked off some time lines to help you see the signals better. The yellow dots were an experiment that has not yielded anything significant.
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