Friday, June 11, 2010

Intraday Example

As an example of intra-day analysis, the following chart is a Gartly pattern.

Currently waiting for a break below $1,078 on the SP to enter a short. If entered may hold until Monday morning.



Monday June 14 is 34td from the April highs and 89td from the Feb 5 low. Expecting a turn on Monday / Tuesday, ideally a low then up.

Astros wise the Sun is in Gemini with Venus and the Moon in Leo starting on June 15. This is usually a volatile period and we could see a big move June 14, 15 to start a move. The move could be up or down but overall I think we should see a trough early in the week than up. Generally speaking the market is very oversold.

The time period of late July / early August is looming with it's very negative Astros. I am expecting an event that will affect the markets, unfortunately it may affect much more than the stock markets.

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