Friday, July 13, 2012

Open Weekend Post 07/14-15/12

You know the drill, share the love and the knowledge.

A couple of charts this weekend that pretty much define everything right now, the holding (barely, thanks PPT) of wedge support.

SPX - the wedge is not as clear on SPX but the support is nearly identical.

Minis - Note the intersections of all the support/resistance lines and the red and green diagonals with the blue wedge and how many instances a price change happened at or near one of those points. Pretty cool stuff. That tells me we're in a very manipulated game right now. They know where price is going (or close). We're dealing with some very concrete structures here.

Earnings has C monday morning. Tuesday before the bell we have GS, JNJ and KO. INTC reports Tuesday as well among others. I'll do an earnings notes next week and maybe follow some of the majors with a few charts.

Thanks for another great week on the blog.

Have a great weekend!

GL and GB!

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