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The Tape Is a Mess But Downtrend In Force For Now

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.

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.

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Update 9:40 AM

The red channel is intact and the 5 day cycle projection is 4648.

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