4 AM ET The market kept accelerating out of trend channels yesterday. That’s crash behavior. In this case, a crash-up. By the end of the day, the ES hit a thrice revised upward 5 day cycle projection of 3850-55. Now we have a resting phase. Not clear how it will play out.
Trend support clusters around 3845-40. If it holds, then higher and higher later today. If it breaks, we’ll get a little correction. Targets would be either 3830-35, and if that doesn’t hold, 3820-25.
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The big picture:
The Composite Liquidity Indicator (CLI) Says Honor Thy Father and Thy Mother
Yeah, this worked out. Lots of Signals, Mostly Sells, Means Good Shorts Ahead
