Outlook for 4/12/11 : EdgePlayerTrading

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Outlook for 4/12/11

by EdgePlayer on 04/12/11

On a year-to-date basis, market is suggesting the formation of an upper distribution area between 1338 and the 1240 area. Double top with lower high is in, 1240 area is now the  long term target. YTD TPO profile

On a month-to-date/week-to-date basis 1311 is the attractor (o/n market is already there).  From there, 1300 is the downside attractor and 1320 is the upside attractor. MTD/WTD volume profile

On a daily basis, the market is poised to open at the bottom of the down channel, so look for a bounce (especially since there is also an NVPOC in the same area). 30min volume profile

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