Saturday, March 30, 2013

Fibonacci Ticks 233-6765

Prices came out of the premarket with strong upward momentum. Double Stochastics and Ergodic Oscillator printed in their extreme upper levels respectively. A quick retracement down was followed by a moderate degree incline that began to form an ascending triangle (continued from yesterday's close). Clearing the top of the triangle, there was a clear breakout where all the indicators went into extremely positive levels. What had been resistance at the top of the ascending triangle, turned support as prices retraced back down. These levels were quickly bought back up which took us above the All-Time closing high of 2007. The final four minutes of trading the highs backed off about three points, with the Ergodic Oscillator rollig over on the 6765  Tick chart.