Monday's call: Yesterday we gave two scenarios for today's trading, neither
of which was particularly prescient. The 1293.81 target did not print in the
preferred time frame and gets added to the list.
The enclosed picture
is of a 120 minute chart. The bar marked by the yellow arrow pointing down
shows the start of a sequential buy signal. The bar by the white 9 is the last
bar of set-up. The blue numbers up to 13 show the signal has triggered. A TD
combo buy signal (not shown by numbers) has triggered as well. On a 60 minute
chart, we have a 9/13/9 sequential buy signal.
The yellow, purple and
white Fibonacci grids show multiple Fib support at today's low. (Focus on one
color at a time and it is not as busy as it seems.)
Thus numerous
patterns show major support at today's low accompanied by major buy signals on
long term charts. Monday should be up and probably up big. A failure of
support at today's low would be disastrous for the bulls.
Longer term,
today's action practically ensured that the year's low would break at some
time.
Personal to mmb: Please post this on avid for me.
Thanks
Jeff