4417 is Bears’ Last Outpost

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So here we are. Another do or die moment for bears. If the ES, 24 hour S&P futures clear 4418, we can go back to hibernation. Bulls will stampede again. Of course, they would immediately face another challenge around 4430. That’s the biggie. On the other hand, if 4418 holds, bears have a shot.

If they don’t get that far, but roll over here instead, then 4400 is the level to watch. Take that out, and the shorts can party.

Here’s the 5 hour bar perspective. Interesting.

Meanwhile, the threat of a bond market calamity may be on hold, but it seems inevitable. Liquidity Trader- Money Trends

For moron the markets, see:

• Weak Week but List Stays Net Positive August 22, 2023
• Weaker Than It Should Be Means Worse To Come August 20, 2023
• Gold and Miners Set Up Ugly August 17, 2023
• One Banking Indicator Is Flashing Bright Red for Stocks August 16, 2023
• I Liked the Buys Better Than the Sells August 14, 2023
• More Supply is Just a Lie But Withholding Weakens August 4, 2023
• Let the Scary Pictures On Primary Dealer Financing Do the Talking July 31, 2023
• Correlations Don’t Matter Until They Do, Like Now July 23, 2023

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