The thread looked busy yesterday, but it really wasn’t. It was just me chain posting out of sheer frustration. I promised not to do it again today.
Meanwhile, speaking of chains, how do you like this chain?
It sure looks orderly on the hourly chart. The number to beat to continue the uptrend here in the 5-6 AM hour ET is 3515. That’s the top of a slightly descending range channel. That line will be at 3511 at 4 PM. Breaking through that line would be very bullish. Below that line, bears would still have a shot.
Note that the multiple touch trendline was broken yesterday. The after hours bounce set up a broader channel. The lower line of that is at 3495 this hour. It rises to 3505 at 4 PM ET. Above that line, bulls are in charge.
You can follow more of my intraday snark at the Stool Pigeons Wire. Register there and join in!
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.
Following the crowd would have made you the most money. But now what?
Not a subscriber? Try Lee Adler’s Technical Trader risk free for 90 days!
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.