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