Our weekly TPO Profile graphics for 17May.
Plotted are Structural Support (blue), Resistance (red), and Points of Control (green).
The graphs show the monthly timeframe buyside directional phase (left)
from Apr's Stopping Point Low, 85.60s, to May's Stopping Point High, 97.20s,
and last week's development (right) in the Upper Cluster, 95s-97.20s, culminating
in a Sell Spike late in the week.
Our weekly statistical study plotting the key reference levels/weekly close for 17May, projected levels and inferential analysis for week ending 22May.
Result?...
The market auctioned higher early week from last week's Settlement, 96s, toward the Avg Wkly Range High, 97.34s, achieving the Stopping Point & Balance, 97.35-96.75s, before initiated selling entered the market, driving price lower, achieving the Stopping Point Low, 92.20s, at prior Structural Support.
Following the Stopping Point at/near 92.20s, the market began a Balance Phase, developing a lower trade cluster, 92.20s-94.50s, into week's end, closing at/near 94.20s.
Ultimately, the market traded above the longer term POC, 96s, early week encountering the sell response resulting in price discovery lower/inventory adjustment through the larger timeframe cluster, 92s-97.50s.
These studies helped inform our subscribers of the Structural Development of a Stopping Point & Balance at/near Structural Resitance following the Buyside Directional Phase of recent weeks. Additionally, knowledge of the Structural and Statistical significance of the 97.50s helped to clarify the meaning of a failure to trade above that level and hold. This data identified the asymmetric risk developing for the buyside in the midst of contract roll and Bernanke's price propaganda providing quantifiable, potential destinations (94.66s, 94.16s, 93.66s, 92s) & strategy (sellside) in congruence with market structure.
A holistic view based on the market generated data and probability logic.
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