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Those are the numbers to watch as the ES S&P futures toy with the trendline that forms the upper line of the megaphone pattern that we’ve been shouting about for the past month. Inside that range is noise. Breaking the range should give us a little move.
To understand the very short term that we focus on here at the Stool, here’s some perspective on the trend since July via 4 hour bars. Really a thing of bee you tay.
Here’s our usual look at the hourly bars. The ES is currently trading dead center of the range at 7 AM in Noo Yawk. A 5 day cycle low is ideally under way, and the hourly oscillators are on the buy side. But it won’t mean a thing if they don’t get that swing through 4544.
And for your longer term listening and dining pleasure:
This is a syndicated post, which originally appeared at Stool Pigeons Wire at Capitalstool.com. View original post.
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