Blount’s Numbahs Wednesday: SPILL is 79 UP with 21 DOWN

William Blount

Wed, Apr 1, 2015, 10:00 AM

Good Morning – Today is series s1L and the SPILL is 79 UP with 21 DOWN. Today is going to be an unusual commentary. I have never done this before and I would only do this for what I consider to be good reason. It will be followed with a couple of comments and of course there are some charts attached. I am repeating yesterday’s HONING section of the commentary one tidbit near the end.
HONING: Now it is OBVIOUS the 2075.5 SPOT is not converted to SUPPORT YET. It is also obvious that the next need for BULLS is to move price through the 2083 SPOT and then attack the SPOT that kicked off the DUMP, 2091.5 as given in the commentary. What about the BEARS??? Their first need is to convert the 2063.5 SPOT and weekly PIVOT 2065.4 to hard resistance. More importantly the need a back through of the 2058 SPOT aka YELL 2058.25 and accelerate through the prior swing low at the 2036.5 SPOT which must be done to open the potential for a full blown test of the 1980.9 cash and the 200 day MA.

So which will it be??? New all time highs or Break the prior lows?? There have been no volume spikes at any of the recent lows and that is NOT GOOD FOR THE BULLS. The BEARS, per usual, keep taking price to the edge of the abyss and acutely failing such as only testing 2031 SPOT big swing low with the 2036.5 SPOT low(2037 rth actual big spoo, 2036.25 mini) low. The seasonals have a slight edge to the BULLS and the good Lord knows there is enough wall of worry on the plate to climb UP; however, price is your arse and until 2083 is bested and 2091.5 SPOT taken out, the lack of capitulative volume is a real nagging issue as to rather we go to 2124-2150 CASH or 1907-1924 cash (with an admitted possibility of a successful test of 1980.9 cash. This means the BEARS do not have a prayer again until they take out 2039.69 cash. I expect Until one of these parameters occurs, ENJOY the plethora of double digit ranges and by all means get those SPOTS . ROUNDIES AND TA on your charts.

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