The Trading Range from Hell 11/24/20

This is a syndicated repost courtesy of Stool Pigeons Wire at Capitalstool.com. To view original, click here. Reposted with permission.

3:15 AM ET

Liquidity moves markets!

Follow the money. Find the profits! 

Anyone who has traded this market successfully since Pfizer Day is a genius.

I am not a genius.

The 5 day cycle projection on the ES is currently pointed at 3603, done, but this could ratchet higher. A couple of trend channel resistance lines are vectoring toward 3625 at around 1 PM New York time. That’s a reasonably likely target if the current mini pullback here at 3 AM ET, holds in the 3600 area.

If that doesn’t hold, the key support line remains 3586, around which all life on earth, and indeed the future of the universe itself, revolves and depends.

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Meanwhile, the 2-3 day cycle projection points to 3635. Pipe that in your put and smoke it.

7:40 AM The market has gone sideways since I wrote that. Is it a consolidation or a top. Follow my observations during the day at The Stool Pigeons Wire at Capitalstool.com. Join the fun, or lately, lack thereof.

As for the longer term outlook, I publish that weekly.

Baby Bears Have No Chance Against This Stampeding Herd

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