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Trendlines Matter 9/16/21

This is a syndicated repost published with the permission of Stool Pigeons Wire at 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.

Even on the intraday charts. The ES futures rallied back to the 10 day trendline. They tagged it nicely and stopped dead. Now, at 5:20 AM NY time, they’re showing signs of rolling over again. This is after also hitting a 5 day cycle projection of 4485.

Hourly oscillators have turned down a little, but they’re still at high levels. These aren’t conclusive sell signals yet. If the ES holds around 4475, and then successfully breaks 4485, or 4482 around the NY open, we could be off to the races again. Remember, this is Fed MBS settlement week. The Fed is in the process of pumping $110 billion into Primary Dealer trading accounts this week.


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Meanwhile, for your infotainment and edification:

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Lots of Sell Signals Again From Friday’s Swing Trade Screen

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