Friday 14 June 2013

Emini S &P/Dow plus USDX (US Dollar Index ICE US).. Is this a new low pivot?

 Is this a new low pivot on the LMLP of this up sloping black fork in the USDX ( sorry for the price window peeping through). It has supported / stopped price falling further but we do not seem to be making enough upside progress away from this line and if we simply bump along the line we will fall through. This is correlated by USDJPY which is also lacklustre on the upside.


DOW: It certainly looks as though we are about to see a higher high in the ES & YM. In the YM M13 the CL is not yet reached and contrary to my bearish opinion yesterday what we saw was pure energised bying price action.Is it a game changer? Well, look at the d/sloping fork using the highest high in the recent months 15506 and the pivots visible here in the chart...its a non touch so i guess I should have been warned for a reversal. We now need follow thru andto break the pattern of LH's ie a break above 15290 area.

S&P: we hope to see a break towards 1650 from here but have already broken the d/sloping ML  and various D/sloping RL's some seen  below;
see previous posts




No comments:

Post a Comment