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Technical and Astrological Forecast – June 3, 2011

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Technical Forecast

With Nonfarm Payrolls out tomorrow there will most likely be volatility in the market and it is important to your levels.  Looking at an hourly chart we want to always be aware of the swing highs and lows, look at 1317.75 as potential resistance and 1304.25 as potential support.  Also be aware of Upper and Lower Bollinger Bands at 1317.07 and 1309.38. 

Looking at the daily chart 1302.25 is a short term swing low and should be significant support, if we get through 1302.25 it looks like 1290.25 could be our next stop.

Astrological Forecast

S&P 500 Emini’s

  • 9:10 – 9:30 – Bullish
  • 10:00 – 10:20 – Bearish
  • 12:10 – 1:00 – Bearish
  • 1:40 – 3:20 – Bullish
  • 3:50 – 4:15 – Bearish

Euro

  • 8:30 – 9:00 – Bearish
  • 9:20 – 9:30 – Bullish
  • 10:00 – 10:20 – Bearish
  • 10:50 – 11:25 – Bullish
  • 11:50 – 12:20 – Bearish
  • 1:10 – 1:15 – Bullish
  • 1:20 – 2:00 – Bearish
  • 2:15 – 2:20 – Bullish
  • 3:45 – 4:10 – Bearish

Putting it All Together

Always remember to couple technicals with the astrological cycles.  Here at HFL we always look for oversold/overbought conditions using Stochastics to enter trades during the bullish/bearish time zones.   Also, look at overlapping time zones in the E-Minin and Euro as they have proven to be the most powerful signal over the last couple of weeks.  For example, the 10:00 – 10:20 time frame is bearish on both the Euro and E-Mini cyclical forecast so given that the technical conditions are overbought and the first few cyclical signals have worked accordingly we will be looking to get into our max position size during that time period.