Menu Close

Hourly Market Chart Wants to Take you Hiya! 8/28/23

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.

Happy Monday!

I’m posting short and early as I wait for my train to Paris, where I’ll connect to a train to Rennes. I have enjoyed my week in Rouen, an unexpected surprise that was far better than I expected. It has shot right up to the top of my favorites list of cities in which to hang out.  Just beautiful!

Rennes is a town I have visited before, and I really like it as well. In between trains, where I have to cross Paris.  I’ll spend a few hours enjoying being there, as I always do, even when it’s just a brief stop.

In the meantime, there’s work to be done.  Let’s start with this:

 

 

Meanwhile, the hourly ES, 24 hour S&P futures chart is just a mess. Hard to guess which way it will break, but the 5 day cycle favors the upside until Wednesday. So there’s that. I’d guess that clearing 4430 would be the  GO signal. On the other hand, falling below 4400 would open the door for another test of the low at least.

11706o

Meanwhile, the 10 year Treasury yield is testing its uptrend channel. It’s due for a pullback or more consolidation. That’s temporary. Here’s Why This Is a No Clickbait Market for Primary Dealers

11709b

Catch you later!

For moron the markets, see:

 

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 folder.

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.

Leave a Comment

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

RSS
Follow by Email
LinkedIn
Share

Discover more from The Wall Street Examiner

Subscribe now to keep reading and get access to the full archive.

Continue reading