retskas bear culling thursday, page-79

These big fat in-your-face bear flags are right across the markets. When I grow old and I'm still broke I'll feel like a bit of a jerk if they do what they are supposed to do and I missed it.

If markets break upwards at least I can be old and broke but retain some dignity by having a story to tell about how I got caught by the best bear flag scam in history, go watch Teminator with the grand kids and tell them it was the day the machines took over.

A little ichimoku follows, daily only, tasty amongst friends over a (cheekily imported) lazy susan and best with a good bottle of saki. Fried fillets of roasted martis is a great side dish. Love the smell of that one cooking slowly. Lines are similar to MA's but are worked only from recent highs and lows.

Ichi cloud is of course support/resistance. Theory says the 'thicker' the cloud the stronger it is. Anyway, a couple of daily charts with some previous respect areas marked.

Nothing special below, but you will see that most times price hits the cloud there is congestion. Many times price is turned away.

Full scale collision on XJO today. Note last time price got through XJO daily cloud was 12th may, so not a regular event.

Dow (IG Equivalent). Collision approaching.

One for Europe, Dax. No collision any time soon.

This is just interesting because the waterfall cloud is only created by really crazy differences between recent highs and lows. The cloud is 'thin' now, so theory says offers less resistance. I expect some interference at least.

In the cloud = no mans land. Look at charts above and you'll see that once free of the cloud some decent moves can happen away from it and that momentum is required to get through and be free of it. We could well open above and clear tomorrow, continue within or reject and fall. Either way that cloud's heading down for a bit yet and I expect it to be re-tested, and longer term either price goes to it or it goes to price.

Just a bit of sport & I'll re-post the XJO a week after it's cleared either way for reference.

PS. The beauty of Ichi is that the cloud is actually created from recent highs and lows and projects into the future. You can't see future projection here because IG oddly won't allow it and SWMBO is on facebook on the computer with software that will project. Another day.