Thursday, June 21, 2012

Trendlines and breakout's- Lets review... Feb & March - huge distribution - April and May- mark down May and June turning points were coicidently NFP. June 19-20 we had confusion in the markets - that led to todays breakouts. Higher Volume June NFP to now -- highs on tops and highs on bottoms. This suggests either redistribution- or uncertainy by some large players. With the TL breakouts- retesting the former highs in UCHF and lows in EU NZ AU are very possible. NZ the "c" wave channel broke out-- this was the kind of drop created to trap the higher buyers- (aka redistribution) so we should see even lower prices through the next week- hence retest of lows. NFP: July 6th- cover shorts June 29th