Good morning -today is series s1L NORMAL and the SPILL PRESSURE is 79 UP w/
21 DOWN…Friday was indeed this: “crap range’ ‘out with a whimper’
..another example of ‘drop-grind’ with the range barely able to exceed the
highly compressed 6-8 handles until the last 30 min of futures trading. The
week low was the 1677 SPOT and the 1683.8 weekly pivot functioned as the
BACK THRU.THE BEN CAME IN AT 1685.25.That event ate up most of the week as
it formed a complex wave 1 up and 2 down (both came on announcement day )
rather you count it as an diagonal ascending triangle to the 1 high or a
complex series of zig zag and expanded flats cobbled together.
This week opens the EXPIRY WINDOW on WED for DAY 1 which features a trend
signature. The ECON reports are light compared to last week.
Thus far the Nano 3 of minor 5 has produced the gravy in the gap on
Thursday and NOW the BULLS ARE IN MUST PERFORM as follows: On offense they
need to accelerate through 1711 cash as given in the July 19 commentary
and go after the 1721-28 fibbo bookends. On DEFENSE go with SPOO 1693
COMMITTED 1681.5 CONFIRMED. Unless we get a double extension in the wave
from the 1343 low , i.e. the 5th wave extends (origin 1560) we are ripe for a
drop that corrects all the rally from the WISCONSIN 1266 forward beginning
this week–so eyes wide open. SPOT, TA, ROUNDIES.
FV -4.35 NUMBAHS S1L NORMAL 08/05/ 2013 SEP. contract
MAX H 1716.1
MAX L 1689.7
Written By: William Blount