Intraday 5 min CIT (Change in Trend) (click on chart to enlarge) Times are the red vertical lines 4/01/11: 9.35, 10.00, 11.55 pm Eastern
Solar Price Support/Resistance are the light Green horizontal lines: 1261, 1269*, 1279, 1297, 1314, 1315, 1333, 1351 June SP
Intraday Cycle are the Cyan lines: 10.30H, 11.15L, 12.30H, 2.00L, 3.40H (80%)
Chart updated, Please note, I have made intraday updates in the commentary section of this post.
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10 comments:
9.35 CIT was a High, next is 10.00 am CIT. The intraday Map could be adjusted. If I see any indications, I will fine tune it.
10.00 am CIT was the 9.50 low.
It is an April fools EOm and EOQ window dressing Day
Early PC Ratio at .97 is not believing this rally, ie we should rally more
Early PC Ratio at .97 is not believing this rally, ie we should rally more.
We have a close above the Mebob Bar (10.05-10.10 EST Bar), which is a Buy signal.
Here are the Mebob Rules, written and courtesy by my friend Rob Falk, aka as Mebob
The buy or sell signals are only confirmed by the CLOSING PRICE of the following 5 minute bars and NOT the high or low. The basic concept as I originally presented it to Avid is as follows.
1. The MEBOB bar is a five minute bar that starts at 9:05 CT and ends at 9:10 Central time.
2. If you draw a horizontal line on your chart from the high and low of that bar you have the key points for the day.
3. If you CLOSE above the high of the Mebob on any subsequent 5 minute bar you buy.
4. If you CLOSE below the low of the Mebob you sell.
1st hour is in, let's see how it unfolds next
1st hour High came exactly at the 10.30 intraday cycle High, next is 11.15 Low
any higher High now (10.50 EST) is bullish
1st day of months has been bullish. The last 12 times, 9 were Up, 3 were dow.
3/1/11 was a Gap and Trap day.
Market displaying some weakness here, 1st the midday high was early and weak, then the 2pm Low is late suggesting a weak last hour. Looks like the Highs of the day are already in.
Looks like the Highs of the day are already in.
Done for the day.
Enjoy the weekend.
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