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S&P Futures Another Bullish Pattern on the Hourly Chart 1/7/22

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.

So what else is new. Another bullish intraday pattern on the S&P fugutures (ES). The mini base breakout has a conventional measured move target of 4745. However, the 2-3 day cycle projection is only 4735 so far. There’s no 5 day cycle projection yet.

Trend sport is at 4685, rising to 4692 at the NY open, but I think that bears would need to get it under 4680 to regain control. Then there would be a shot at another breakdown. Resistance is indicated around 4712 and 4725-30. If cleared, they can push it to 4750-60 late in the day.

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Cryptonite Update-

Our favorite whipping boy Buttcoin (BTC) found support at 42K (oops! broken since I wrote that early this morning). No surprise there. 39,678 is the critical sport level. If they get it below that, Cryptonite falls on all the crypto superfans.

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Meanwhile, will goldbugs ever have their day?

Just in case you missed this little bit of fun. Recorded 12/28/21

 

Meanwhile, the big picture.

When Boring Isn’t Bullish – Gold

It’s The Most Blunderful Time of the Year

Wheels Are Moving in Slow Motion for the Top

The Rigor Mortis Stock Market Rally

 

This is a syndicated post, which originally appeared at Stool Pigeons Wire at Capitalstool.comView 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.

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