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This Chart Shows Why You Should Be Very Afraid of the Stock Market – 12/3/21

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.

In short, lower highs and lower lows, with multiple attacks and failures at sport lines. Aka “support” for the uninitiated and uninoculated.

If this were a daily chart, it would be a bear market.  No doubt that’s coming. This is what the stock proctology cycle chartists call a fartcall of things to come.

But of course, hope  springs eternal in the hearts of US traders and Federal Reserve chart technicians. So as they got to their screens earlier this morning, the market began to rally smartly, or should we say “stupidly,” again.

The 2-3 day cycle projection is 4605. They got to 4601 so far. Close enough? I’m not sure. There’s not quite enough data for a 5 day cycle projection yet. Another hour or two for that.

A sharp enough pullback in the early going in regular trading would set up another lower high. There’s a ton of resistance 4595-4605. If they clear it, back to 4630 we go. If they don’t, bears ball with great field position.

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More later! Meanwhile, the big picture.

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