Wednesday, May 8, 2013

Fibonacci Ticks 144-6765

The S&P 500 Futures opened just above their 60 & 110 period Moving Averages, of forms Simple & Exponential, respectively, on their five day, 144 Tick Interval. Within five minutes they (Futures) had breached both of their MA's; however,  they quickly regained their footing and rode that newer amplitude wave formation until roughly 10am PST. At that time an Eve & Adam rounded top formed that instigated a retracement down to the Golden ratio, 61.8%. At approximately 10:47 am PST, the Futures shot up once more, albeit on a much shallower wave, that would nonetheless, soon thereafter, retest the earlier highs--this final thrust only coming after the culmination of the allowing for nearly an hour of digestion, sideways to down meandering movement, that had provided enough room for the unwinding of the overnight, premarket, and current day's movements. The intermediate and long term Tick Intervals, 987 through 6765, were maintained  throughout the day without much of a retracement of the Double MA's, Double Stochastics, & Ergodic Oscillator. The William's Alligator Study held the Futures above the Jaw (13 period Displaced MA) on the 6765 Tick Interval, that reiterated my Technical Analysis of an exhaustion rally into the afernoon.   The final Data-set in on our Technical Analysis came in the form of Woodie's  CCI, and  Woodie's Pivots, including a Sequence Counter. The Futures bounced off of the Daily Pivot Point (PP) in the premarket and carried all the way through Resistance One (R1) on the Weekly PP, R3 on the 4 Day PP, & R1 on the Option Expiration/ Monthly PP. A Shamu Pattern (Woodie's CCI) was clearly evident on the 6765 Tick Interval and we traded it for a 50% Profit over the hour the position was held. Several other CCI patterns formed a confluence leading up to the aforementioned Shamu on lesser interval Ticks to the 6765, but certainly served as confirmation and reassurance as well as guiding posts for timely and maximum profit targeting.