Today is series s3H and the SPILL PRESSURE is DOWN. The Bulls did what they failed to do on Friday going after the 1664 SPOT overnight Sunday. They fell prey to the NORMAL PATTERN Monday at the a.m. high on the 1667 SPOT ..This was the Blurb from the Friday COMMENTARY:
“The BEARS retain control of the chart up to the 1689 SPOT.The most favorable place for the ‘B” wave high will be the 1664 to 1677 SPOTS with the 1677 probably a bridge too far”
THEN FROM YESTERDAY:
“The next big deal is the market is pointing to 2 events now on the nearby horizon: SEPT NFP ON 9/6 and the FED RATE DECISION 9/17-18.These two catalysts will be the MAIN DEALS barring any unforeseen events”.
Ok, so yesterday the market opened at 1662.3 was putting in a soft sideways down to the lunch low , behaving very MUCH IN THE BRACKET DOLDRUMS as of late when it was hit with an unforeseen news event/catalyst. THIS is how waves are FORMED and this event provided the red 4 of ‘a’ of (B) and even possibly ALL of the (B) .These were the TELLS : a weak and early mid p.m. high that could not recover the 1667 -SEE 1:15 eastern- a Break of 1664 SPOT and tag of the OPENING -SEE 1:52- residual pressure up to ‘2’:30’ was weak and could not do the BACK-THROUGH of 1664 SPOT-SEE 2:30–and lastly the SALT THROUGH A GOOSE MOVE on the killing of the OPENING BACK-THROUGH at 3:12…
The attached chart is a follow-up to yesterday’s –in order to keep it from becoming too crowded , the largest current BEAR COUNT on the BIG wave 4 down does not designate the (B) as possibly over at 1667 in the heart of the zone given Friday…it is a mechanically valid alt. ..
With most members of the pencil and eraser set a sort of mystical moment occurs where the wave structure ‘leads’ the news , FIWIW I believe the CATALYTIC REACTIONS simply form
wave structure dependent upon the ‘news in play’. This is similar to the old chicken and egg issue .WHAT MATTERS is the TELLS as the structure is unfolding. This is why OPENINGS, SPOTS, TA, ROUNDIES, weekly pivots (lol), MATTER —
PARTING SHOT–DASHED OR SOLID–will lunch be higher than or lower than the first hour high? Will last week’s low be tested? will the news from yesterday be seen as over reactive and we fix the blue ii (alt) or ‘b’ low of (B) up? if we kill last week’s cash low then the issue simple becomes, was yesterday red 4 high of all of (B)…and that is the message of the attached chart
By William Blount
FV -2.34 NUMBAHS S3H 08/27/ 2013 SEP. contract
DAILY WEEKLY
PIVOT 1658.2 1653.3
S1 1649.4 1644.4
S2 1644.6 1627.3
R1 1663.0 1670.4
R2 1671.8 1679.3
MAX H 1676.6 1696.4
MAX L 1635.8 1618.4
Range Projections
1647.0-1660.6 Primary 1648.9-1674.9
1653.8-1667.4 Alternate 1635.9-1661.9
TVS
1664.6 HIGH 1648.1
1659.1 LOW 1646.6
TWO DAY
1673.4-1677.0 HIGH
1642.4-1647.0 LOW
OPG 1662.3 1651.4
H 1667.0 1662.3
L 1653.4 1636.3
C 1654.2 1661.4
