When we look at the 2 hour bars on the ES S&P fucutures we can interpret it in two ways. The market is not attacking a zone of massive impenetrable overhead supply, AKA resistance.
Or the market is entering a zone that has been crossed over and cleaned out so many times in the past month that it will fly through it like it’s thin air. I wouldn’t call it a vacuum, because then it couldn’t fly. Unless you were rocket propelled, in which case, you would.
Got that?
Good.
Of course, what I just told you is meaningless drivel. But the 5 day cycle projection is 4160. And if they get through that, it would complete a nice bottoming pattern that would have a conventional measuring implication of 4240. That’s arithmetic and geometry. And I am Pablo Picasso.
Hourly
By the way, the cycle oscillators on the 2 hour bars say we’re definitely going higher. The indicators on the hourly are saying, WTF do I know.
Actually, indicators don’t talk. Buy psychotic technical anal cysts think they’re talking to them. Sick people who need to be institutionalized because they won’t take their meds otherwise.
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