Menu Close

To Uptrend, or Not to Uptrend, That is the Querstion 9/8/22

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.

As I travel around the north of la France this week and next, today Paris, tomorrow Brest, lest we remember and lest we forgets, yes turd day:

  On 9/7/2022 at 10:48 AM, DrStool said:

…low is due now, suggesting an upswing for most of the day today. The cycle now ending hasn’t been as weak as the two prior ones, so they might pop it through the downtrend. The key trendline will be around 3913 in the first half hour of NY regular trading. To really get things going on the upside, the ES would then need to clear 3920. That should give it enough pop to get to yesterday’s triple top at 3960. And if they got through that, then a challenge of the high of the last cycle made last Friday at 4018.6 would be in order.

Expand  

Now that that’s been dispensed with, we see that an uptrend has or has not been established, but that there’s a 5 day cycle projection of 4000-4015, which suggests that one will be.  Mais à ce pointe, il y a beaucoups de canaux de trend qui descend aussi, a plus tard aujourd’hui.

Vive la résistance!

Here’s a 2 hour bar chart for pisspective.

yxbuo

Now if they get through 4016, bears will have un gros probleme. Because such a breakout would have a conventional measured move target of 4140.

Here’s the usual hourly bar look.

You will note that the hourly oscillators have reached the level where they last turned lower. But they haven’t turned. This is what you call a pregnant pause. The question is what pops out. The spawn of the devil? Or not.

yxbz1

Ah oui, my fellow travelers, of such question is this life!

This is just the very short term stuff. For the big picture check out the posts below.

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.

Join the conversation and have a little fun at Capitalstool.com. 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.

This site uses Akismet to reduce spam. Learn how your comment data is processed.