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.
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.
The big picture:
Yeah, this worked out. Lots of Signals, Mostly Sells, Means Good Shorts Ahead