MURICO.com Forum

Momentum has shifted to down

but no sell signal until there's a daily close below 69.12, so 69.00 may or may not provide support. A sell signal is not confirmed until there is a daily close below 68.20 which I have my doubts will happen. my 60 minute chart is very suggestive of a $1 drop, maybe even $2 to bring balance perfection and fully retest the Feb 11th 67.90 low. This would also bring the board and index to a better balance just in time for the expiration trade push higher. If that is what cash is waiting to do. Even a drop to 66.50-67.00 would do no chart damage to the weekly chart uptrend. That would just bring balance perfection to the weekly chart and give April hogs their $5 correction addicted fix but 3-4 dollars is acceptable. $5 is not written in stone just a preferred tendency.

The 60 minute chart needs a 60 minute close back above 70.25 to negate the down momentum. North lines working @ 70.27 and south lines working @ 69.22 and favored to get the call but I will have respect for the possible suckers that there seems to be plenty of. My deposit targets for the south lines have been placed @ 68.97 and 68.80. I would like to have them placed at 68.75 and 68.40 but the Prime Directive will not allow for such foolish thoughts with the abundance of suckers we've seen the last several weeks. Now I just sit back and wait for the dinner bells to ring.