At 6:50 AM in New York, 5 day cycle projection on ES, S&P fugutures 4655-60. But what a mess. If they clear 4685, could be off to the races on the upside again. Otherwise we got ourselves a steep downtrend working.
Update 9:40 AM
The red channel is intact and the 5 day cycle projection is 4648.
Instantly followed by your daily WTF moment.
Reason to Stay Optimistic on Gold
An Explosion of Sell Signals in Swing Trade Screens
Underweighting the Negative Signs
Beware- Debt Ceiling Uncertainty Darkens the Outlook
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.
