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.
Happy Labor Day Weekend! First, let’s start with the 4 hour bar look for perspective. This thing just keeps grinding away at resistance, while staying around and above the top of the megaphone pattern that began in July.
Now, the usual one hour look, shows pretty much the same thing. An early 5 day cycle projection points to 4570 here at 6:30 AM in New York. BUT, they haven’t broken out and hourly cycle oscillators are on the cusp. This could still go either way.
The benefit of the doubt should always go to the upside until proven otherwise, so I lean toward that view here. In that case, the initial target lines are around 4562-65.
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.
If you are a new visitor to the Stool, 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.