04/27

Review of yesterday and areas to watch today.

RTH Chart:

I found it strange that it blew through the 1392.25-1392.75 area but such was the reaction to the news that the American housing market was growing again – I noted that level yesterday and I place particular emphasis on NVPOCS when together with HVN’s. I will look at that for support today also.

The upmove yesterday finished at the area where RTH opened after the NFP on 04/04. I have marked this with a gray box. This area is very thin and on good news could move up easily (only singles there as they say).

Note the selling which took place at 1403-1410 in the past.

After the Spanish downgrade yesterday the market pulled back and filled the thin area from yesterdays profile and found support at the 1388.5 VPOC and HVN area.

Resistance:

1408/1410 – heavy selling area
1403.25 NVPOC and HVN
1397.5-1399 Yesterday High / Overnight High

Current area 1396 near 1395.5 VPOC 03/28, and 1396 HVN.

Support:

1392.25-1392.75 noted yesterday as overnight high, HVN, NVPOC 04/04 & 04/05 (not 04/09 as I had said) – need to see if this becomes as support.

failing that

1388.5-1389.5 – There is a lot going on here. It is a HVN. It is also the thin part from yesterday above 1389.5 and it got filled out in overnight with ONPOC at 1391

… on really bad news

1381.5/1382.75 – VPOC 04/25, 04/20

It is now challenging yesterdays highs again.

24 Hour Chart:

News Today:

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s