Today is sereis s4L and the SPILL PRESSURE is UP. The news driven overnight gap topped the market EXACTLY WHERE the BEARS will view ‘the HAIL MARY took place as given for Monday commentary. The pattern was a clean DASHED lunch higher than a.m. high play BUT THE BULLS MADE TWO MISTAKES opening the door to a aberrant mid p.m. LOW.
MISTAKE 1: the lunch high did NOT make it thru the OPENING @ 1699.8, topping at 1698.5 -SEE 12:18-12:21..MISTAKE 2 : BREAKING the mid a.m. low -SEE 11:06- 1693.75 AND this provided the BACK THROUGH of the 1693 SPOT confirming a late and strong move was in motion…The weakness provided the mid p.m. low on time at the 1689!!!! SPOT.(.NO1EGO, shades of HALLOWEEN 2005 S3H aberrant dashed morphs to SOLID, aye mate !!!!!)…
TODAY IS SETTING UP THE FED-yesterday we had a NORMAL range of 11.8 HANDLES(actually .3 handles over the 11.5 )…WE ARE AT A MAJOR INFLECTION POINT.THE BULLS MUST take out the ALL TIME HIGHS and THE BEARS MUST HAVE THE HAIL MARY.
1689 WILL BE THE CONTROL PRICE as the BEARS have lost CONTROL OF THE CHART.
First chore for the BULLS is getting back through the 1693 SPOT and last hour high 1692.5..BEARS need a BREAK of 1681.5 for starters … but really don’t get things going in a meaningful way until 1673 SPOT is killed as given on Monday.
I am enclosing 2 charts-they are a follow up of the CHART SENT LAST TUESDAY MORNING just after we confirmed the most BEARISH COUNT was DEAD…SPOTS TA ROUNDIES, the charts speak for themselves– SPOTS TA ROUNDIES.
By William Blount
FV -6.86 NUMBAHS S4H 09/17/ 2013 DEC. contract
PIVOT 1693.1 ,1672.6
S1 1686.3 ,1661.5
S2 1681.3, 1641.0
R1 1698.1, 1693.1
R2 1704.9 ,1704.2
MAX H 1709.9, 1724.0
MAX L 1674.5, 1629.9
1683.8-1695.6 Primary ,1667.1-1698.2
1689.7-1701.5 Alternate, 1651.5-1682.6
1700.0 HIGH ,1680.7
1694.0 LOW ,1669.0
OPG 1699.8, 1652.1
H 1700.0, 1683.2
L 1688.2, 1652.1
C 1691.2, 1682.0