This is a test. This is only a test.
The ES, 24 hour S&P fugutures are back up to test yesterday’s high. At the same time here at 6:45 AM ET, the ES is testing the trend channel line that started with the launching of the Fed resubstantiation rally yesterday. A close below 4737 by the time New York trading opens would break the channel. If they stay above that, 4741, 4745, and 4755 are areas to be watching for a possible pivot. Above that, the sky’s the limit.
Or maybe only 4763.
It May Be Gold, But It’s Not a Given
For moron the markets, see:
- It May Be Gold, But It’s Not a Given December 15, 2023
- Swing Trade Screen Picks – No Gifts for the Holidays December 11, 2023
- Stock Market Dancing on the Ceiling December 10, 2023
- Gold Got There Fast But Race is Over December 6, 2023
- Tax Revenues and Liquidity are Crashing December 4, 2023
- This Chart Tells Us Exactly When the Bull Market Will End November 26, 2023
- A Rally Can’t Live on Hope Alone November 20, 2023
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