The Big Giant Head Pattern which we have noted for the past several days, has grown a tumor from the left ear. This invalidates the bearish implications of the pattern. Here’s the 2 hour bars view.
Goodbye Gritty!
The hourly bars show a bullish configuration on the hourly oscillators, and a new uptrend channel. That channel is aimed at 4495 today. The 2-3 day cycle projection is 4490, currently.
First the ES futures must clear resistance at 4465-70. Then there’s even bigger resistance starting at 4495. If it gets through that, it would take aim on 4600.
For the longer term outlook- Beware! The Market Has Followed My Script
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