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 Turkey Day to all my fellow Merkans.
Tomorrow is just another day in la France but I will enjoy it vicariously with you as you celebrate with your families.
Normally Wall Street pre-celebrates, and it’s beginning to look that way on the hourly chart of the ES, 24 hour S&P futures, just before 8 AM ET. The 1 day cycle projection looks like 4560-65. If successful, that would imply a conventional measured move target of 4580-85.
But let’s not jump the gun. The market has reached an area of major resistance for the next 50 points. The first pivot level obstacle is 4557. Clear that, and more upside should follow. Don’t clear it and be ready to wallow. Room to Run
For moron the markets, see:
- Swing Trade Screen Picks – Holding Those Longs November 20, 2023
- Room to Run November 20, 2023
- A Rally Can’t Live on Hope Alone November 20, 2023
- Gold Has Lost Its Mojo and Is Now in Danger November 14, 2023
- Swing Trade Screen Picks – Loading Up on Buys November 13, 2023
- Meltup Gonna Take You Hiya November 13, 2023
- Fuggedaboutit! Treasury Supply Ain’t Going Away November 5, 2023
- Which to Believe, the BLS or Actual Tax Collections November 3, 2023
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.
