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Destination 3320 Or Beat the Meat 8/4/20

This is a syndicated repost published with the permission of Stool Pigeons Wire at Capitalstool.com. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

3:50 AM ET

That’s the latest 5 day cycle projection. But there’s a little matter of round number resistance to be handled.

Also, hourly indicators are on the sell side with a negative divergence since yesterday. If we get an hourly close below 3282, I might buy some weekly SPY puts for a little joyride. I’m not saying that you should. I’m just saying that for my own self flaggelation.

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For longer term projections and trading ideas, see Lee Adler’s Technical Trader.

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