4:30 AM ET Dare we dream? Two straight down days?
Nah.
Yesterday, I pointed out the importance of the 3586 level. We’ve got a double bottom there on the ES fucutures hourly overnight. If they clear multiple trend resistance at 3611, it will be up, up and away.
On the slight chance that they break 3586, beware of a fakeout shakeout to trend support now at 3575 dropping to 3571 when NY opens. Only if that’s broken is there a shot at more than your daily shake and bake sale.
On the other hand, if they clear 3611, then we’d be looking for 3645 in a heartbeat, with a possible bathroom break at 3620-25.
Please remember to don your mask when stopping at the rest area. Those bathrooms are full of virus.
Click to engorge.
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(Sorry, no shorts this week). 🤔
5:45 AM ET –
30 Minute bars show the trend breakout and resistance looming at 3620. Once through that, 3645, lickety split. Indicators bullish. 2-3 day cycle projection 3633.
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