WEEKLY REVERSALS
The current overall tone on the Weekly level is moderately Bullish for right now,
electing two Weekly Bullish Reversals suggesting some upward movement was in
order on this time level with the last being elected last week suggesting at least a
bounce. The broader tone of the market is neutral on this trading level.
So far, we have elected 2 Weekly Bullish Reversals. The next key Weekly Bullish
Reversal stands at 11980. A bullish trend remains in play as long as this market
holds above 10420 on a Weekly closing basis. A closing beneath that will signal a
near-term change in trend to the downside.

HYPOTHETICAL WEEKLY MODEL ANALYSIS
On our Tentative Hypothetical Models, we see that we have Weekly Bullish
Reversals that would be generated if we see another new low penetrating 10650.
These Tentative Hypothetical Bullish Reversals would stand at 6812, 10198, 11465,
and 12145, whereas a close above the previous high 11965 would tend to suggest
that these Tentative Hypothetical Bullish Reversals will then become fixed as long
as the low holds thereafter for at least several days. Moreover, the election of any of
these Tentative Bullish Reversals during that session would signal a bounce is
unfolding and that such a low may stand. However, if we continue to make new
lows, then these WHAT-IF Reversals will be replaced by a new set until the low
becomes fixed.

Socrates

My weekly charts are not rolling correctly...still printing the July contract...these Numbers are for the August Contract...If you want the October numbers just subtract or add the difference of the closing prices to these numbers.

We actually elected a bearish reversal at 107.80...The Next weekly Major Bearish Reversal to watch is 104.20, a closing below this reversal on a closing basis you would look for the next Major Bearish reversal located at 85.000. Once a reversal is elected then it no longer serves a purpose...unless the election of that reversal is more than 1.5% away from that reversal...if it is the case you would expect to see a test of that reversal before continuing the trend that it was on.

Sp!ke