Wednesday, December 14, 2011

121411

The Monthly Profile has made a bearish breakout got the candle body close below the midpoint between MS1 and MS2 look to sell the 1st retracement on this profile.  If the signal generates below 724.80 which is the midpoint of the Monthly PZ the probability of success will increase on this signal.  Take note that the bottom of the Monthly PZ is at 702.50 on TFH12 which provided some support today as buyers will come in there and attempt to block the bears from taking control of the market on the month.  Until the Quarterly Profile analyzed with Daily candles makes new highs and then preferably closes higher then the high of the prior candle we will continue to take all the sell signals that are being generated on the weekly and monthly profiles until the un-closed gap is filled at 692.70.  There is also another unfilled gap at 660.30.  The 702.50 price level will be critical over the next few trading days if TF breaks below it and gets a candle body close below it on the Monthly Profile it should have no problem closing the first gap.  

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