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Chaining 9/1/20

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.

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.

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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.

The Genius Move Was Following the Crowd

Following the crowd would have made you the most money. But now what?

Technical Trader subscribers, click here to download the report.

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