The ES S&P 24 hour fuguetures have a 5 day cycle projection of 3780 on the hourly chart. It doesn’t guarantee that they’ll get there. There’s trend support at 3800. But if that breaks, the next trend support is around 3765-70. It looks like a more likely target than 3880. Any bounces that don’t clear 3830 would suggest more downside ahead.
Conversely, if 3800 holds, and then they break 3830, fasten your seatbelts for a rocket ride to 3900 again.
Meanwhile the crypto kids can’t seem to get it going, with BTC on the way to a 1 year cycle projection of 9-12k and a long term measured move target of 5000 below zero.
And the 10 year yield is still firmly ensconced in its uptrend channel, despite the big pullback this month. There’s a huge coupon settlement coming tomorrow, only partly offset by T-bill paydowns. It will be a big test.
Meanwhile, for gold bugs, Gold Nears Triggers That Would Signal Brutal Outlook.
Follow how pre-determined and known liquidity flows drive stock and bond prices here . I will show you and tell you exactly how the major forces of macro liquidity move not just the bond market, but stocks as well. Liquidity analysis sets the context for technical analysis. It helps us to narrow the focus of our chart reading to the outcomes that are most likely, given the circumstances.
To better understand the big picture right now so that you can take the correct action when the time is right, check out the following:
- Gold Nears Triggers That Would Signal Brutal Outlook June 29, 2022
- Stocks Are Even More “Dover Sole” Versus Liquidity June 28, 2022
- Bulls Have Hope This Week, Bears Wary of Pump June 27, 2022
- The Spike Is Here, So Here’s What to Expect June 26, 2022
- We Knew QT Would Be Devastating, But You Ain’t Seen Nothing Yet June 21, 2022
- Dealers Assume the Position, as 75 BPs Coming Wednesday June 13, 2022
- The US Economy, Including Jobs, Collapsed in May June 2, 2022
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