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.
The American Society of Stocktologists (ASS) brings you this 2 hour bar chart of the ES, S&P 5+495 fugutures for perspective. At 6:30 AM in New York, as US traders arrived at their screens, a breakout was in progress. The conventional measuring implication of this base is, ahem…
April Tax Collections Still Running Red Hot Mean That Fed Must Get Tighter
The Fed is Tightening Into a Sheet Storm
4980
Now for the usual hourly bars.
It’s just as bad. We have a nice little meltup channel working. Only needs to be below 4765 by the NY open to break it. But there’s a 5 day cycle projection of 4,800 that would be the target for today. First needs to clear resistance at 4760 and 4770.
Meanwhile, the big picture.
Swing Trade Screens – More Buys Than Sells Again This Week
Here’s Why Not to be Dumbfounded in Disbelief
Prepare for Market Doom, the Moment of Truth Is Here
Reason for Hopeful Pessimism on Gold
Why It’s Big Trouble that Real Time Tax Data Shows Economy Still Growing Fast
When the Fed Balance Sheet Will Hit the Fan
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.
Join the conversation and have a little fun at Capitalstool.com. 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.
You must log in to post a comment.