Liquidity moves markets!Follow the money. Find the profits!
ES 2-3 day cycle projection 3235.
UPDATE 7:10 AM ET
2-3 day cycle projection back down to 3224, which was all but done. The uptrend off Friday’s low is broken.
UPDATE 7:50 AM ET
That didn’t last long. They’re back in the channel and surging higher. 3224 is top of bottom pattern. Clearing that would trigger a launch.
UPDATE 9:35 AM ET
And that’s a fail and trend break on NY open, with hourly indicators edging to the sell side. To be valid, this needs to stick until 10 AM. An hourly close below 3208 would set up a nice little top pattern in a broader downtrend channel that started Friday. Note that 3 day and 5 day cycle lows are due today. Could come at any time.
UPDATE 10 AM ET
Whiplash! The early selling was a shakeout. At the close of the hour we have a breakout from an hourly base pattern that measures to 3260. The 2-3 day cycle projection is a little less ebullient, pointing to 3235.
Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.