Tuesday, April 23, 2013
Fibonacci Ticks 144-6765
It is hard to offer any sound technical analysis when we see an event like today's Houdini Act. I watched $15 Billion disappear from my charts in 90 seconds, only to come right back and beyond in under 5 minutes. The TTM Squeeze is indicating a massive coiling of volatility that began prior to the 'flash' and has continued into the close. Woodie's CCI did do a commendable job of indicating a sizable drop was coming this afternoon; but to say it saw that would be crazy talk. Price bounced directly off of the TTM LRC, linear regression channel of the 5 day period. Double Stochastics remain extremely positive across all intervals, as does the Ergodic Oscillator. There is also solid support from the Alligator's Jaw across longer intervals. The Fractals study gave some great buy signals today on the intermediate tick intervals.
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