A candlestick formation confirmed a sell signal. 4XGENIE Action:  Sell this PAR at 203.60. Stop at 209.02. Wave 5 could drop down to 198.11 or to 192.60. NOTE: A consolidation of price movement or a price correction may be underway. The CCI is above 100. This par is overbought at this time.

Next Day Trading Ranges for Monday Apr 21, 2008.

The 20 day moving average of the daily trading range is 313 PIPS and the 60 day moving average of the daily trading range is 303 PIPS. This shows that volatility has increased in the short term. The percentage of downdays when the open/high ratio is less than 25% is 73.19 percent. This means that if this PAR does not rise more than 78 PIPS from the opening price then there is a 73.19 percent chance that this will be an downday.

The [R3] or the most extreme high trading range is 211.16.

The [R2] or the extreme high trading range is 209.64.

The [R1] or the high trading range is 207.01.

The [P] or pivot point is 205.49.

The [S1] or the low trading range is 202.86.

The [S2] or the extreme low trading range is 201.34.

The [S3] or the most extreme low trading range is 198.71.

In this particular case if the price rises above 209.02 then that would show momentum against 4XGENIE‘S short position and that would be a break out to the upside.

Current Day Trading Session:

No signs of downward momentum at this time.

Next Day Trading Session:

If the next day’s close is below 203.60 then that could be a sign that new downward momentum is beginning.

REMEMBER: NEWS OVERRIDES TECHNICAL ANALYSES !!!!!!!!

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4XGENIE