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Today’s Stock Market Looking Armageddonish

The hourly chart of the ES fugutures is beginning to look a little Armageddonish. The last downtrending sport level is around 4647 as of 8 AM in New York. Below that is a wide open space to the next important sport levels around 4610-4600. At the moment, the 2-3 day cycle projection is only 4645, so I’m half expecting a bounce when the NY premarket action opens. By 9:30 though, if they don’t clear 4665, I’d give the downside the benefit of the doubt.

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

 

Meanwhile, the big picture.

No Mercy

Don’t Be Surprised, or Fooled, By a Rigor Mortis Rally

Breakout Under Way!

When Boring Isn’t Bullish – Gold

Wheels Are Moving in Slow Motion for the Top

 

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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