Tuesday, April 2, 2013

Fibonacci Ticks 233-6765

Price rode the MA's up the entire morning and into lunch. Once setting a new high, sellers pounced and prices rolled over. We managed to set a higher low than yesterday on the retracement, keeping the rising wedge intact. Prices got overextended on the 6765 Tick interval and caused the reaction low in the afternoon. Double Stochastics were extremely strong from the open as well as the Ergodic Oscillator. The short term Stochastic has pulled back and the Ergodic is flat at zero.