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On the Way to St. Malo 9/12/22

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.

Where the US stock market is headed is another story, but I’m on a short day trip from Rennes to St. Malo today.

Last week was tough. I had too many winners on my chart pick list, so of course the market took back half the profit and then some. This is the second or third time the market has had a vicious reversal when the average profit on the list reached 9-10% over 2-3 weeks and virtually all picks were winners.  Next time, I’ll just close them all out when the list hits that parameter. And of course that will be when the market crashes, if they are all shorts.

Swing Trade Screens – Trailing Stops Did Their Job To Preserve Profits

As for today, the uptrend channels in the ES, S&P fugutures are well established. ES must first break 4080, and then 4063 to create a potential reversal. If it holds above 4070, then we have a base breakout measurement to 4250. Ugh. But fear not. The 5 day cycle projection is only 4100.  3-5 day cycle indicators are in trending mode. Any intraday selloff that lasts a couple of hours should trigger sell signals.

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Meanwhile, the big picture:

If you’re serious about the underlying forces of supply and demand that drive the markets, join me!

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