Friday, March 22, 2013

Fibonacci Ticks 233-6765

Price rallied into the close once it was able to clear the MA's on the 233 Tick chart that had been overhead the majority of the day. Price held above the 6765 tick chart 60 SMA and 110 EMA for the entire day, except for the premarket. The dWb_DoubleStochastic finished the day in extreme bullish territory; however, the dWb_ErgodicOscillator showed a bearish divergence with price making its High of the Day, while a lower high registered on the indicator at the close. A third consolidation down intersected directly with the MA's and sent the market on a rally over 1550 at the close.