That’s the next S&P fucutures 5 day cycle projection in this perfect stairstep advance. It feels disorderly during the day, but trends don’t get much prettier than this on the charts.
Hourly
The daily bar chart is ridiculous.
They’re at the top of the channel here, so it could be interesting if they do pull back. The bottom of the channel is around 3400.
I wonder if the next top will be a massive year long affair as is typical, or a compressed slow motion hairpin turn over a week or so like the last one. Having a crash off a top like that was previously unprecedented. But now there’s a precedent!
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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.
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