Blount’s Numbahs Friday: The SPILL is DOWN
Good Morning – Today is Series S2H iffy and the SPILL is DOWN..The reason for the iffy is simple: The HOD registered well after 3 p.m. Aberrations in EXPIRY week normally occur between Tues. and Thurs. noon to noon so this HOD at 3:15 is not in character. Let’s get yesterday out of the way:
Yesterday’s CASH LOW @ 1886.41 is less than 20 handles away from shifting the large lean to BEAR MARKET on a break of 1867.01. The market is SPILL up 79 odds and 1900 cash should provide a battle if seen. Larger resistance is now the 1931.5 SPOT and yes, breaking the TROIKA 1962-1965, 1971 was and is BIG DEAL. If we do another down the 1965.5 SPOT ALIGNS with the 1871 CASH LOW from 9/29. “Potential Neckline drawers” will focus on the 1872.5 SPOT and 1870 ROUNDIE ES today as the cash trendline that would form the neckline connection the Oct. 20144 low at 1820.66 through the 1867 Aug 2015 low a extrapolates cash price of 1877.95 cash today.
The market opened on a GAP UP, Spill UP, was unable to recover the 1894 PEEAN TRAP, thereby negating the attempt to take out 1900 CASH!!!! The BATTLE for 1900 cash was immediately lost. Following Wednesday’s SD S4h Link Stink 68 handle puke was really not that unexpected as long as the move from the SPILL UP to an a.m. low was in the offing. That move to the a.m. low was really an issue of ‘do we go after 1867 cash RIGHT NOW and wind up with back to back SD’s (hard to put in back to back same performances in EXPIRY) OR was here a logical place to attempt to halt the slide. ENTER THE NECKLINE buyers! The immediate reversal was a violent short covering SU zoom back to the 1912.5-1915.5 SPOT zone already identified in REAL TIME BEFORE THE DUMP in an as next larger resistance.
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