We bears may consider it morally wrong and repugnant, but greed is good, ergo…
Here we go again at 5 AM ET.
The ES has hit uptrend channel resistance at 3772 and should pull back a bit. The 2-3 day cycle projection of 3770-75 was hit. The 5 day cycle projection looks a tad higher at 3780-85.
If they get through this trendline around 3775, the next one and likely target is now around 3785-90 and rising. The pattern that they just broke out of overnight measures to around 3780-85. We should see 3800 later this week, if not this afternoon.
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For the big picture go to Liquidity Trader.
Here’s to a better year for all in 2021!