Saturday September 18, 2010
And then there's this little tidbit - On September 1st, price gapped open above the 21 period ema on the hourly chart. Since then the 21 period ema has not been breached. That was 144 - 60 minute intra day candles ago. Also Tuesday is September 21st. For those who follow our work closely we wrote a few weeks ago that we believe this period will be of importance not only in the markets but the world at large.
We open the week with a report from the National Association of Home Builders. Tuesday we get Building Permits, Housing Starts and the Fed will announce their decision on Interest Rates. In the same breath I'm sure, we will also be informed that the economy is still slowing. Really? If that weren't enough, on Thursday we get Unemployment Claims and Existing Home Sales. Did I also mention that historically the week following September's Triple Witching is a down week? Well there you go...
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