Update on DX-Spot V after October expiration


It is amazing that the first week after October expiration was similar to what we saw during the second half of May 2009. After convincing move above 10,000 points, DX-Spot V refused to budge on my original "Judgement Day".

Instead, it made a bold move to even close above 10,000 on 19, 20, 22 October 2009. This is an encouraging sign.

DX-Spot V made a 52 week high at 10070 on 21 Oct, and it took approximately 19 days from 2 Oct low to hit this target. The 64m question is where DX-Spot V will be heading. I turned on the daily trend filter in Profitsource, and as you can see, the last 4 bars are black. It means that the market participants are unable to reach any consensus as to where DX-SpotV should go. Alternatively, bulls and bears are beating each other day in day out.

9800 apparently is a near term support level, and right now, I am going to stay neutral until I see bulls or bears have an edge over the other. The next Judgement Day as marked in my Profitsource chart is actually 22 Dec, 2009 which marks a new trading year from Gann's perspective. This will be a significant turning point I am paying close attention.