Saturday, 20 October 2012
Friday, 19 October 2012
Thursday, 18 October 2012
Here's the background and also here
In the middle there is a detailed study incorporating reaction lines plus other pertinent forks and the lower chart is a 30 min showing the reaction line that caught and supported price last time. This time we will go lower and the pattern suggests we are building a top...This also dovetails nicely with a possible coming equity rally.
Monday, 15 October 2012
weekends posting on YM Z12........ here's the ES Z12 and todays performance so far.
Sunday, 14 October 2012
The ES has critical support form up sloping reaction lines at 1415 and phyc support at 1400.... an interesting week lies ahead.
Tuesday, 9 October 2012
Three pivots 1, 2 & 3 and their relationship with the BC swing is clearly illustrated here. I am not saying we can pre judge what effect their reacion lines will have but you can already see the first RL ( from pivot 3-BC) is having some effect on price action even if the next moves goes lower- which it should - towards the CL. I have strong support marked on the chart form a monthly reaction line that is horizontal at 1435 and we may see a bounce off there which may provide a short entry level. This reaction line you may see as a horizontal MULTI PIVOT LINE but if you put your mind to it you can find all the important MPL's which are either ML's RL's.
PS:That horizontal black line you see is a PF & YOU should draw it if you are trying to make sense out of the ES using pitchforks...try it and see the serious support/resistance this fork offers. There is a high probability that we are heading back and maybe topping out for good here ...or we may bounce off it again (P0 6th Mch 1338.50/ P1 27th Mch 1419.50 & P2 1262 on 4th June).
Wednesday, 3 October 2012
Tuesday, 2 October 2012
Monday, 1 October 2012
French fantasies?...New Budget dreams and the 3% rule??
A more complicated study showing the same and more historical and local ML's and reaction lines
In the article listed here Mr Parnell quotes "This QE elixir has led to a great decay in financial markets, however, as any sense of true price equilibrium both within and across asset classes was completely lost some time ago."