They keep managing to do this, while the market ultimately goes nowhere endlessly. Both stocks and bonds have rallied overnight and into the early morning hours. The 10 year yield has pulled back to 4% and stocks look like they are headed to da moon. The ES, 24 hour S&P fuguetures hourly bar chart now has a 5 day cycle projection of 4025. The 2-3 day cycle projection is only 4005. If this is another one of those 4 day numbers, then the 4025 area also looks about right.
The way the channels set up now, this thing would seem to have a date with 4025 around mid day in New Yak. But there’s also a ton of resistance suggested in the 3995-4005 range that they would need to crack. Doing so would clear the base of a nicely formed reverse head and shoulders pattern with a conventional measured move target of 4075.
The good news from the bear’s perspective is that 5 day cycle momentum has reached the area where these rallies have recently topped out. The bad news is that cycle oscillators aren’t quite there yet.
It looks like this.
Warning! Top Formation In Progress February 27, 2023
And check out how Satan saved the 10 year yield.
A pullback to 3.97 would not violate the uptrend. But if they break that, then 3.90 would be next. Who knew! Here’s Why There Will Never Be Bull Markets Until This One Thing Happens February 26, 2023
Meanwhile, the yellow shit has scooped out a beautiful rounding reverse head and shoulders bottom. But to activate launch sequence, it needs to clear 1855. The hourly oscillator setup suggests that it’s likely. Buckle up. Gold’s Rebound Is Coming! February 28, 2023
For moron the markets, see:
- Gold’s Rebound Is Coming! February 28, 2023
- Swing Trade Screen Picks – Can’t Touch This February 27, 2023
- Warning! Top Formation In Progress February 27, 2023
- Here’s Why There Will Never Be Bull Markets Until This One Thing Happens February 26, 2023
- Gold’s Temperature Reaches Absolute Zero February 22, 2023
- Bears Challenge Bulls to A Duel – Here’s Who Gets Shot February 21, 2023
- You Can Now Follow the Diabolical Usual Suspects February 16, 2023
- One Gold Indicator Needs to Whipsaw or Will Signal a Secular Top February 14, 2023
- How Bears Could Take Charge This Week February 13, 2023
- US Treasury Throws A Shocker to Reverse the Stock Market Outlook February 9, 2023
- Withholding Taxes Fell Sharply in January February 3, 2023
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