This looks like a 5 day cycle low on the ES, S&P 500 futures. The cycle projection of 4145 was hit, and the time is right. They’re trying to make a stand, while waiting for Lord Jaysus to take us up in the rapture. Although more likely, we’re going to hell after a little tease.
The first resistance level to contend with is right here at 4185 as of 6 AM in New York. Then 4200-4205. If they don’t manage to clear those, then I think we need to think in terms of a possible crash.
If they do clear, then we get some upside going into the Fednouncement. Short covering. The next targets would be 4225 and 4250. If they clear 4255, then we’d have a really nice looking double bottom that could sustain a rally lasting a few days. If they don’t clear it, then bears are still in charge.
Meanwhile, get the big picture.
- Gold Holdings Consolidated March 14, 2022
- Our Chart Picks Posted Record Gains Last Week March 13, 2022
- Weakening Cycle Patterns in Stocks Portend Worse to Come March 13, 2022
- Get Ready For Serial Market Crashes March 12, 2022
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