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Tuesday, March 8, 2016

Tuesda March 8, 2016

At the resistance I mentioned a few days ago.  This is easily predicted by the Volume Profile, Moving Averages, and the Andrews Pitchfork.  Even though the Ichimoku appears bullish we need to look at the distance the market has traveled away from the Tenkan-Sen, which is going to attempt to pull it back. According to my calculations a break out could take us as high as 2060, but I doubt this will happen.  Support stands at around 1954 near the top of the Kumo, but I'm afraid this could turn into a disaster.

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