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Bear Beatings to Continue Until Morale Improves 5/14/21

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.

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.

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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.

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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.

This is a syndicated post, which originally appeared at Stool Pigeons Wire at Capitalstool.comView original post.If you are a new visitor, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter.

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