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Yesterday we left with a couple of the intraday cycle projections pointing to around 3440 on the ES fucutures. Well here were are in the wee hourse, and voila! Done!
Will it still be there in 5 hours or so when NY opens? Stay tuned. The 2-3 day cycle projection now points to 3460. The cycle indicators say this move is done for now. I’m not so sure. If they hold any pullback at or above 3335, I’d think that that projection is doable today.
Here’s the 30 minute bar chart to illustrate.
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Meanwhile, get cycle projections from 2 weeks to 2 years, along with key support and resistance trends and levels, and long and short stock trading ideas at Lee Adler’s Technical Trader. Here’s the latest report.
A short term top and minor correction are due but intermediate cycles still point higher. We have more stockchart picks to take advantage either way.
Technical Trader subscribers, click here to download the report.
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