We humans try to explain everything that happens in the market. We always need a reason. But much of it can simply be explained as random shit. That’s why I try to focus more on the what than the why. Because the what at least gives us a certain percentage of predictability. We just need that percentage to be a hair above 50%. If we get to 70% that’s like the holy Grail.
Meanwhile today is a travel day for me. I’m on my way from the gorgeous city of Lille France for one week stop to relax in Rouen Normandy. Lille was a shocking revelation to me. I think it is the most beautiful medium sized city that I have seen in Europe. And it’s a real bargain in terms of what it offers. I highly recommend a visit.
As for today’s market, the ES 24-hour s&p futures chart has come off a nice 5-day cycle though with a breakout from a symmetrical bottom pattern that measures to 4405.
I will be back with a better chart, and cycle projections later!
LEE ADLERWe expected an intermediate top, but as of right now, the market is on the brink of being weaker than it should be in cycle structures. Here’s how it sets up, along with what to look for this week that will tell us whether this will get worse. Non subscribers click here to access.
Technical Trader subscribers click here to download the complete report.
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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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