Good morning – today is SERIES S4H and the SPILL is DOWN..Yesterday started with a battle for the weekly pivot 2262.7 big contract and the bulls won Price took off back through the bottom of NO MAN’S LAND. and tracked nicely with a break out above the 2267.5 YELL looking for the 2272 SPOT. ..more
Things certainly seemed as if we going to do a CHECK MARK DAY( see glossary) and all the BULLS needed to do was DEFEND 2270 roundie on what was left of the lunch low residual cycle pressure. This is where DEFENSE is JOB1 and if holding longs(anywhere from weekly pivot battle -2262.7- to the 2267.5 breakout) or initiation of new minnow longs ( lunch low) then DEFENDING a risk marker is tantamount to losing control of the trade. ,,more and more importantly
The Bulls failed.They did not get a good move to the MID P.M. HIGH.They lost the risk marker as support failed at precisely the pre identified RISK MARKER. As price accelerated SOUTH and with a last hour low the odds, it became very apparent we were VERY WEAK .The WILD CARD dealt was morph ofr CHECK MARK UP to DEEP RETRACE , actually an “A” on the break of the 2264.5 OPEN aka bottom of NO MAN’S LAND (keyed upon and repeated very often for a couple of week’s now).Disappointing as to offense YES., especially if minno long from lunch low to mid p.m. high;however,defending and controlling the loss were very acceptable on the touch of 2270.
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