Tuesday, October 14, 2014 10:47:29 PM
Early morning push to 0.435 set the stage to create a High Wave candlestick. Traditional TA sees this candlestick off a consolidation pattern as a hopeful sign to move higher. Money Flow TA on a 1 hour chart suggests some momo testing today off possible loading from yesterday afternoon in front of a possible momo push (but still met seller resistance).
Money Flow TA 3 Cycle Buy Side Turns to Mixed Bag: Money MOMO (ChiOsc) still moving downward but not at a great pace. Short-term Retail (CMF 3) (#2 on chart) dropped from its "power zone" (> .5) but did not collapse the price. Both short-term (MFI 3) and monthly "Smart" (read: manipulative) Money (MFI 21) continue the upswing and the 50 line was crossed for "confirmation"-- good bid support was in place.
Now would be a good time for the highly anticipated buy volume (PVO) (#3 on chart) to show up.
Raff Regression and Fibonacci Fan replotted based on Sep 9 top and Oct 9 bottom (Oct 8 for Fib Fan). Key price areas to watch: Fibonacci pivot support (S2) @ .434 and (S3) @ .307-- sub-price points: .405 (Raff Regression) and .332 (Lower BB)
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