It is simple, direct, obvious.
Meanwhile, here we focus on the intraday stuff. Once again, the market has made an ostensible “bottom” in the premarket of the hourly ES S&P 24 hour futures. In order to confirm, the ES merely needs to end the first half hour of regular trading in New York above 3600. We might then expect an epic massive rally to 3616-20.
Now what if they don’t clear 3600? Then it will depend if they hold above 3570. If they do, this maddening trading range will go on. But if they break 3570, next stopping point should be around 3550. And if that didn’t hold, 3530.
In the Department of BTC Leads, the verdict has already been rendered.
- We Can Now Project When Fed Will Pause, But Not Reverse October 13, 2022
- Swing Trade Screens – Plunging in on the Short Side October 11, 2022
- Market Reaches Do or Die, Right Here October 10, 2022
- Look Out For the Real Fallout of Declining Withholding Tax Collections – Part 2 October 6, 2022
- Look Out For the Real Fallout of Declining Withholding Tax Collections October 5, 2022
- Swing Trade Screens – Beware! This Swing is Old October 3, 2022
- Stocks Have Much At Stake Right Now October 2, 2022
- Gold Reason to Hope No Reason for Optimism September 30, 2022
- Markets Face Catastrophe as Dealers Mitigate Too Little Too Late September 26, 2022
- Fed Speeds Into Dead Man’s Curve, More Black Tuesdays Ahead September 15, 2022
- There Will Be More Black Tuesdays September 14, 2022
If you’re serious about the underlying forces of supply and demand that drive the markets, join me!
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