Yep, that was the 5 day cycle projection as of 1 AM in New York. It implied that resistance at 4242, 4248, and 4248, would be non factors, or at least not much. An old megaphone line now at 4274, and another one at 4284 could be.
But then the fucutures pulled back just a little between 2 AM and 5 AM. That broke the 2 day uptrend channel and put 5 day cycle oscillators on sell signals. If this pullback doesn’t stop at somewhere around 4230, it could mean pahtay ovah. Below 4225, and bears could drive. Below 4205 would open the trap door for a crash.
So which will it be? Let’s key on the 4225-4230 area for a signal.
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.
