Today is series s2L NORMAL with the SPILL PRESSURE UP.
In last week’s commentary, I said:
“THEY NEED to hold 1632.5 which was the Price of the day again yesterday and is a NON RECOVERED SLICE AND DICE.Simply put, they need enough CUSHION to weather the ‘normal pattern’..IF THEY FAIL and we take out the 1632.5 as a first TELL and CONFIRM with new lows for the overall move THEN the (C)is back in GEAR FOR ITS’ 3 OF (C)AS THE FAVORED LEAN CONTINUES TO TRACK…If they SUCCEED then price is still in 2 of (C)or on the way to (B) and the more probable bounce targets of 1651.5 and
1667 “
EVERYTHING IN THAT PARAGRAPH is BINGO…The BEARS GOT THE NORMAL PATTERN, 1632.5 REMAINED THE PRICE OF THE DAY AND THE WEEK FOR THAT MATTER; THE BEARS GOT THE BREAK OF 1632.5 AT BOTH THE APPROPRIATE TIMES ,i.e., the LUNCH ON THE KERRY CIONFERENCE AND THE LAST HOUR LOW ; THE BULLS DEFENDED THE 1625 FUTURES LOW FROM THURSDAY AND MORE IMPORTANTLY THE 1627.47 CASH LOW.
BOTTOM LINE: BEARS DON’T COUNT THEIR CHICKENS BEFORE THEY HATCH or CALL IT ANOTHER SOAP DROP as the FAILED TO CONFIRM WITH NEW LOWS..
In essence NOTHING HAS CHANGED: The BEARS OWN THE CHART at the large level up to 1689 ; The BULLS WANT to hold the weekly pivot 1641.1 /1642.5 SPOT, NEED to hold 1637 , and MUST HOLD THE 1632.5 SPOT with confirmation we are going DEEPER on a break of last Thursday lows. On offense they are STILL SHOOTING for 1651.5, will almost certainly accomplish the 1642.5 MINIMUM for 2 of ©, nd can take price to the 1667 + (must take out 1669.51 CASH for the (B) ALT.with (A) LOW now labeled as the alt. @ 1625 PSOO/1627.47 cash .
TRADERS WILL RETURN THIS WEEK, PRETTY BIG WEEK OF ECON POINTING TO NFP, -SPOTS TA ROUNDIES…
By William Blount
FV -1.69 NUMBAHS S2L NORMAL 09/03/ 2013 SEP. contract
DAILY WEEKLY
PIVOT 1632.0 1641.1
S1 1625.0 1615.2
S2 1618.7 1599.2
R1 1638.2 1657.1
R2 1645.3 1683.1
MAX H 1651.6 1699.2
MAX L 1611.7 1573.3
Range Projections
1621.9-1635.2 Primary 1607.2-1649.2
1628.5-1641.8 Alternate 1628.2-1670.2
TVS
1632.0 HIGH 1657.5
1626.1 LOW 1632.9
TWO DAY
1645.7-1649.3 HIGH
1615.4-1619.0 LOW
OPG 1639.0 1662.3
H 1639.0 1667.0
L 1625.7 1625.0
C 1631.3 1631.3
