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Is the Hourly Chart Count Basie? 10/13/21

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.

3:53 AM New York Time –

Here’s the 2 hour bar chart on the S&P futures. While we still have an hourly bear market, the 5 day cycle count and pattern of the past two weeks certainly looks base-y. The levels to watch on the downside are 4327 and 4309. Break those and we could have a bear party.

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Here’s the one hour bar look. Dare I say it looks bullish?

tvc_b1d34351a1421434edcc806e84e2e42b.png

 

Bulls need to clear 4375 and 4400 to give this Count Basie some upside rhythm.

 

 

This is just the intraday look. For more: Head and Shoulders Above

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