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A Beautiful Bottom 5/17/22

This is a syndicated repost published with the permission of Stool Pigeons Wire at Capitalstool.com. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

They don’t come any more perfect than this.

An hourly close on the ES 24 hour S&P fuguetures would be bad news, bears. The 5 day cycle projection is already 4125. A breakout from this obvious base pattern implies a measured move target of 4280. All in one day? Not likely, but I would not rule out making it to the top of the green channel at 4166 by the end of regular trading in New Yak.

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