Thursday, June 06, 2013

We didn't quite get to the target, which would have been the gap fill at $159.72 from 5/2, but I guess at $160.25 this afternoon "investor's" considered it enough of a value proposition to take it to Da Moon into the close. Or maybe the FED pumped in a few extra Billion to your Buddies on Wall Street, wad ever.
It's interwesting though, if we are going to fail this rebound it will be at the shoulder of the H and S I talked about, at about $163.60, which would also intersect with the top of the new down trend channel, so, that would be an interwesting "area". The payroll report in the morning will be the big driver of course, a BAD number and we probably go to Da Moon again, a break over the channel would provide a little confirmation.
Both the STOCH's are over sold, so that help's the Bull's, but the previous rally didn't start until both the ROC and Coppock Curve both got back above the zero line, which, right now, neither are even CLOSE to trying that.

One thing that is definitely in the Bull's favor is that we got a spike down in the $NYMO to below -100, so that parameter has been full filled.

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