*** Comments prior to evaluation summary ***
The week of June 8 was an enveloping bar with a projection of 24059.
Since then the last three weeks have been adjustment bars. The highs lower than previous period high and lows higher than previous period lows.
Current bar is projecting a 684 - 1092 point movement for the following week. Current close is pointed toward climbing higher. However the week prior was pointing lower.
26204.4 (the high for last week) and 25096.2 (the low for last week) are the support and resistance that must be dealt with. Violation of one (with a daily close) should set the direction for the week.
Over all the enveloping bar is the dominate force that needs to be dealt with in the price action.
I am monitoring the price projections with the bearish envelope in mind.
Trend Analysis:
The current trend is defined by the last price and it's relationship to specific moving averages.
Check the MA strategy for more specific suggestions.
Weekly: The relationship to the primary trend MA is bullish. The price in relationship to the other averages suggest long positions
Price Action:
Weekly: The average price range currently is 1826.6 points/ticks/pips. Prices are currently .3x the normal trading range. Prices are trading within the mean range for activity. This generally indicates a consolidation of strength/indecision in the market regarding direction.
Prices are currently caught in consolidation between 24843.2 and 27580.2.
While in consolidation the trade range may decrease to 1128.468 points/ticks/pips.
Standard Deviation
Weekly: Standard deviation suggests a range from 23514.5 to 28140.3 for the following week.
Calculated Price Strength:
The strength of the trend in conjunction with specific averages
Weekly: Trend strength suggests a trade range of 24698.56 to 26956.24 for the following week.
Price Projection:
The price action has generated a projection signal for the underlying.
Weekly: Price currently displays (if strength and attitude continue) a desire to move toward 24135.93
If strength and attitude continue, it could take between 1 to 2 trade periods (weeks) to reach the projection.
Indicators Summary.
A collection of technical indicators whose directional attitude has been summarized.
Weekly: Out of the cumulative indicators monitored, 60.00% are bullish, 0.00% are bearish, 40.00% are neutral
The CCI indicator trading strategy suggest the following:
Weekly: Neutral price action - No entries at this time. If in, consider covering..
Confirmation Signal
6 indicators combined to confirm entry/exit.
Weekly Bullish - Open directional trades
The week of June 8 was an enveloping bar with a projection of 24059.
Since then the last three weeks have been adjustment bars. The highs lower than previous period high and lows higher than previous period lows.
Current bar is projecting a 684 - 1092 point movement for the following week. Current close is pointed toward climbing higher. However the week prior was pointing lower.
26204.4 (the high for last week) and 25096.2 (the low for last week) are the support and resistance that must be dealt with. Violation of one (with a daily close) should set the direction for the week.
Over all the enveloping bar is the dominate force that needs to be dealt with in the price action.
I am monitoring the price projections with the bearish envelope in mind.
Trend Analysis:
The current trend is defined by the last price and it's relationship to specific moving averages.
Check the MA strategy for more specific suggestions.
Weekly: The relationship to the primary trend MA is bullish. The price in relationship to the other averages suggest long positions
Price Action:
Weekly: The average price range currently is 1826.6 points/ticks/pips. Prices are currently .3x the normal trading range. Prices are trading within the mean range for activity. This generally indicates a consolidation of strength/indecision in the market regarding direction.
Prices are currently caught in consolidation between 24843.2 and 27580.2.
While in consolidation the trade range may decrease to 1128.468 points/ticks/pips.
Standard Deviation
Weekly: Standard deviation suggests a range from 23514.5 to 28140.3 for the following week.
Calculated Price Strength:
The strength of the trend in conjunction with specific averages
Weekly: Trend strength suggests a trade range of 24698.56 to 26956.24 for the following week.
Price Projection:
The price action has generated a projection signal for the underlying.
Weekly: Price currently displays (if strength and attitude continue) a desire to move toward 24135.93
If strength and attitude continue, it could take between 1 to 2 trade periods (weeks) to reach the projection.
Indicators Summary.
A collection of technical indicators whose directional attitude has been summarized.
Weekly: Out of the cumulative indicators monitored, 60.00% are bullish, 0.00% are bearish, 40.00% are neutral
The CCI indicator trading strategy suggest the following:
Weekly: Neutral price action - No entries at this time. If in, consider covering..
Confirmation Signal
6 indicators combined to confirm entry/exit.
Weekly Bullish - Open directional trades