Horseshoes and hand grenades.

Bias-down target neutralized.

2071.50 was "unfinished business above," left outstanding from yesterday morning's bias-up signal. An entire session spent testing that signal never invalidated it. Sell signals weren't credible. 

2071.50 was met before this morning's open, and retested after the open.

Holding 2071.50 through the opening 15 minutes of volatility made this morning's 2069.25 bias-up signal unlikely to trigger. That would have put into play an offsetting test of the 2062.00 bias-down signal. 

2069.25 did not trigger bias-up. And 2062.00 was just tested to within 3 ticks. 

That's close enough for a buy signal to be valid. Despite not actually touching the bias parameter, coming within 3 ticks disqualifies it from becoming "unfinished business below." A buy signal is trying to trigger back above 2065.50. Back under 2064.00 would resume the decline, next targeting 2057.00-2058.00.

Posted to Rod David's Futures Market … on Nov 25, 2014 — 11:11 AM
Comments ({[comments.length]})
Sort By:
Loading Comments
No comments. Break the ice and be the first!
Error loading comments Click here to retry
No comments found matching this filter
Want to add a comment? Take me to the new comment box!