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That would be the conventional measured move implication if the ES, 24 hour S&P futures break out above 4420. However, as of now the 5 day cycle projection only points to 4445-50. There’s plenty of resistance indicated on the charts in that area to stop the upward momentum. It should result in pushback. But it would be very bullish if cleared. 2-3 day cycle projections only point to 4445 also, but shifting to a 4 day basis, we’re getting 4490-95. So I would not place a bet against that happening.
Weaker Than It Should Be Means Worse To Come
And then there’s this to worry about. Liquidity Trader- Money Trends
Which is the mirror of the unfolding of this catastrophe, first charted as such more than 18 months ago.
For moron the markets, see:
- 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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