Wednesday, 26 February 2014

Equities: YM, ES, TF, NQ etc. A free whipping

Well, that was a bloody business with a false break lower. Clearly we are not ready to move lower  and indeed may see another pop to the upside that will carry through overnight however there are mixed messages. Ther Spoos shows a definative non touch ie centre line rejection in this PF shown below but to understand market flow you must view price in multiple forks and the historical median lines which show up as the horizontals below and provide supp/res.

 Heres the daily DAX futures which shows the black and blue historical PF/ML's plus the black thinner PF.
Heres the DAX 5 min chart with the simplest of PF's showing the opposite of whats happened in the SPoos ie a struggle to get to base/the centre line
Conclusion: The whole business is still up in the air with a growing amount of volatility and looks like being another range day but remember the SPoos has a gap to fill at 1841 so may grind lower.

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