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Here’s The Number the Market Loves 8/27/21

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.

  1. That’s the approximate center of the new range on the ES S&P 500 futures.

Which looks a lot like the old range.  It’s just wider. Any trading between 4488 and 4502 now is essentially noise. Not much you can do with an often crossed range of less than 1%. There are resistance lines about every 2-3 points on the way back up and only a little air to 4469 in a fall.

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Even when they break the range, there are trendlines and sport and resistance levels every 5-10 points to contend with. My advice to to enjoy what’s left of traditional summer.

Things should start to get interesting thereafter.

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