Top to End All Tops, Or Breakout to End All Breakouts

Now, to the charts. First, let’s step back and look at 4 hour bars on the ES, the S&P fucutures for a little perspective.

So it would appear we are either at the top to end all tops, or the breakout to end all breakouts. Are we clear on that?

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So we’ll zoom in to 2 hour bars. Clearer.

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And finally our usual 1 hour bars look. The overnight pullback is now at a defining moment at 4225. Definitely looks due for correction to around 4210 for starters.

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But a look at the 30 minute bars says that if 4225 holds, look for an upside breakout and a lunar launch in New York this afternoon.

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Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also publish, and was lead analyst for Sure Money Investor, of blessed memory. I developed David Stockman's Contra Corner for Mr. Stockman. I’ve had a wide variety of finance related jobs since 1972, including a stint on Wall Street in both sales, analytical, and trading capacities. Prior to starting the Wall Street Examiner I was a commercial real estate appraiser in Florida for 15 years. I was considered an expert in the analysis of failed properties that ended up in the hands of bank REO divisions, the FDIC, and the RTC. Remember those guys? I also worked in the residential mortgage and real estate businesses in parts of the 1970s and 80s. I have been charting stocks and markets and doing analytical work since I was a teenager. I'm not some Ivory Tower academic, Wall Street guy. My perspective comes from having my boots on the ground and in the trenches, as a real estate broker, mortgage broker, trader, account rep, and analyst. I've watched most of the games these Wall Street wiseguys play from right up close. I know the drill from my 55 years of paying attention. And I'm happy to share that experience with you, right here. 

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