Today is series s4L and the SPILL pressure is up. Yesterday’s GAP LOW satisfied the INVERTED T’S and that was the last ‘good news’ for the Bear crowd. That low produced a nano 4th wave down – SEE CHART – The ensuing rally was relentless producing a DASHED pattern in spades.
From there one can imagine a buy the rumor sell the news potential coming out of the Political Class or another set back; however, as of yesterday the odds have shifted towards a test of the old highs and that any drop from here will NOT kill 1657 SPOO before that test is made.
When coupled with the charts YESTERDAY (9/11 to current)/, that hopefully all have saved (they are the blueprint for”what next”).
The BEARS are NOT DEAD until new highs are made or a TRUNCATED HIGH can be counted BUT I want to reiterate that the odds have shifted with the 1702.5 TAG. If price accelerates from here on an initial reaction to the ‘govt fix’ it would not be shocking BUT with both camps looking for a rest THE BEST TIME TO FIX THE 1702.5 AS SUPPORT will be on its back through after we do a quick drop correcting the rally this far. SPOTS TA ROUNDIES..
One more thing and this can not be reiterated strongly enough since I began hearing about it – MAY 20TH COMMENTARY: 1779 is a huge price BUT IT HAS TOO MANY EYES ON IT..
FV -5.58 NUMBAHS S4L 10/15/ 2013 DEC. contract
DAILY , WEEKLY
PIVOT 1698.5 , 1679.6
S1 1691.2 , 1659.9
S2 1698.0 , 1620.8
R1 1711.7 , 1718.6
R2 1719.0 , 1738.4
MAX H 1732.2 , 1777.8
MAX L 1670.7 , 1601.1
1694.9-1715.4 Primary , 1669.8-1728.6
1684.6-1705.1 Alternate , 1640.4-1699.2
1704.7 HIGH , 1691.2
1700.4 LOW , 1644.2
OPG 1687.0 , 1669.2
H 1705.7 , 1699.3
L 1685.2 , 1640.5
C 1704.5 1699.0