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I’ll start with the 2 hour bars this morning, for perspective. As of 4 AM in NY, the numbers to watch, progressively, for resistance, are 4518-20, 4525, and 4530. If those are cleared, the next target would be 4550, and that could happen fast.
Looking at the 1 hour bars, the 5 day cycle projection would be 4520, if they can hold the 4510 area until 5 AM ET. If they clear it, then the projection could move higher. The hourly oscillators are mixed. It’s not yet a strong sign that the rally will progress from here. For now, the trajectory of the current move is aimed at the resistance convergence around 4518 around the hour of the NY opening.
More later. Now back to your local stations for your listening and dining pleasure.
Or if you prefer something different, try these tasty morsels.
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