Hey! I’m sorry, but writing headlines is harder than it looks sometimes, ok?
This is one of those times. So cut me some slack, ok? 😁
The chart picks were a bit more conclusive this weekend: Holding Longs, Adding Shorts. The intraday outlook, not so much.
At least there are some nearby levels that look like keys. On the upside there’s resistance at 4557. If cleared that should get things rolling on the upside. There’s room to run to around 4580, where more resistance is indicated.
On the downside, they need to break 4533. But it’s not clear how much running room there is going that way. There are multiple sport lines every few points. The most critical one is 4507. If by some miracle that gets taken out, then we could see more selling come in.
The 5 day cycle projection only points to 4533. That suggests that the bulls will hold it together for the time being.
For more on the bigger picture:
- Holding Longs, Adding Shorts April 4, 2022
- Market Still in “Fool The Majority” Mode April 3, 2022
- Why March Withholding Taxes Showing Red Hot Economy Is Bearish April 3, 2022
- Gold Can’t Hold March 29, 2022
- Fragile and Dangerous Semi Blind Spot March 28, 2022
- Screens Be Nimble, Screens Be Quick – They Were! March 27, 2022
- Here’s Why This Will Be “The Rally that Fools the Majority” March 26, 2022
- Seven and a Half Weeks of Bullish Liquidity Ahead March 19, 2022
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