It’s that time of year market fans. Spring flowers are blooming, the eggs are rolling, and the matzah is cracking. Pass the chicken fat. We will now sell a brate the resurrection. Of the stock market.
The liquidity will be flowing into the markets in a gusher over the next 4 weeks. But here on The Stool, we concern ourselves only with today. And the pattern fits the narrative. Up, up and away.
The ES S&P futures have a 5 day cycle projection of 4470-75. If they clear that it would create a nifty bottom pattern that would measure to around 4565. If they don’t clear it early, stick around.
Trend resistance comes in at 4453 in the opening half hour in New York. That’s the line they need to clear to get it going. If they fail early, maybe we get a pullback to 4430 or so, but I have no doubt that they will try again, and ultimately succeed.
The really big trendline comes in at 4505 at the end of this pre holiday session. I don’t think they’ll clear that, but what do I know.
But wait. There’s MORE!
- Gold’s Last Chance Before Summer Vacation April 12, 2022
- Primary Dealers Still Long and Wrong, But A Gift Rally Looms! April 11, 2022
- Swing Trade Chart Picks Maintain Sell Side Tilt April 11, 2022
- There are Profit Opportunities in a Rangebound Market April 10, 2022
- Why March Withholding Taxes Showing Red Hot Economy Is Bearish April 3, 2022
- Fragile and Dangerous Semi Blind Spot March 28, 2022
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.
