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Closing Comments

 8/12/09

Closing Comments:

ESU9:

Short term:

105.75/106.00 is the key level.

Above the key level up to 1022.00  

Below the key level down to 989.75

The move up from 985.75 was 25.50 pts, which is a minor price movement (Corrective). The major movement (trend) occurs in 30.00 price movements.

The next major move is down to 981.25.

We must be careful the next 48 hours, due to the 13 day high price cycle, which occurs in 2 more trading days.

I STRONGLY believe from the 1016.00 high we will make a make a major low 6 days from the high, which is in 4 more days.  

 

Euro: Down to 13832, in three stages according to the chart.