Well, it’s hard to believe, but the 2 hour bar chart on the ES, S&P 24 hour fugutures suggests that we’re going up for a couple more days. Seems there’s a nice little cycle running 8-10 trading days that has just turned up again, with the market attacking resistance here in the pre market.
Zooming in to the usual hourly view, you can see that the market has edged above the August 4 high. It’s not a breakout yet, but it is a tell. The 2-3 day cycle projection is 4195.
To understand and profit from the big picture check out the following.
- Fasten Your Seatbelts – Updated Cycle Projections Are Shocking August 8, 2022
- “As Good as It Gets” Was Good While It Lasted August 6, 2022
- Upon Further Review Gold Bottom Call Stands August 5, 2022
- 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
- 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!
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.
