The overnight selloff leaves us with a 5 day cycle projection range of 3740-3780. As of 7 AM in New York, the 24 hour ES S&P fuguetures are sitting on a sport line at 3760, smack in the middle of the projected range. If this line gives way, then the next sport level is around 3730 this morning. If that breaks they’ll probably do the slinky thing, every 20 points or so down to 3660, where there’s a fireworks and custard stand. It’s custard’s last stand before the holiday.
As of 10 AM in New York. The top of this beautiful downtrend channel will be at 3765. ES needs to get above that line to break this trend and start another dead cat resurrection.
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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