I haven’t seen so much green on a chart of the ES 24 hour continues S&P futures since I was in Ireland on St. Patty’s Day. Oh. Wait. I’ve never been there, done that.
Meanwhile, both the 2-3 day and 5 day cycle projections have moderated to 4165-74. I thought it would be interesting to split the difference between the usual one hour bar look, and 30 minute bars. This is a look at 45 minute bars. On this basis it sure does look like this goose is ready to come out of the oven.
It may go a little higher, but as long as it stays at no more than 4177, the bears have a shot. We’d need to see around 4145 for a decent sell confirmation.
Meanwhile, are we about to get some good news on gold. A little more upside here would break the downtrend, and perhaps confirm my bottom call.
To understand and profit from the big picture check out the following.
- Treasury Confirms Supply Tsunami We Expected – Will Obliterate Everything August 3, 2022
- Withholding Tax Collections Solid in July, But Here’s Why the Party is Over August 2, 2022
- Swing Trade Screens – We Had Longs, Yay! But… August 1, 2022
- To Blow Off, or Not to Blow Off – That Is the Question August 1, 2022
- Gold Has Made a Bottom July 28, 2022
- The Bond Rally That Fooled The Majority And Didn’t Help Dealers July 27, 2022
- As Good As it Gets, Before the End of Time July 18, 2022
- Are the Fed and Treasury Geniuses, or Just Lucky? Part One July 12, 2022
If you’re serious about the underlying forces of supply and demand that drive the markets, join me!
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