The stock market is trying to make a stand at support this morning. The ES 24 hour S&P futures are testing trend spport lines, and so far, they are holding. The number to watch is 4737. If that’s broken, the floodgates could open. Or maybe not. There’s another line at 4727 that could generate a bounce. If that breaks, I think we’re gonna have some fun anight, have some fun anight, woo.
If not, anything between here and 4764 is a no man’s land, with no decision on direction. Above that would be bullish all the way to 4772 woo. That’s trend resistance at the end of New York trading today. If that’s cleared bull party time.
Stock Market Is Having Irving Fisher Moment
Meanwhile here we are at a moment of trud in the bond market. Weekly Bank Data and Fed Balance Sheet Say the End is Nigh
For moron the markets, see:
- Weekly Bank Data and Fed Balance Sheet Say the End is Nigh January 16, 2024
- Stock Market Is Having Irving Fisher Moment January 15, 2024
- Gold Outlook Increasingly Hopeless January 11, 2024
- Swing Trade Screen Picks – Market Lacks Conviction, But 3 New Picks Have Potential January 9, 2024
- US Economy Didn’t Crash in December? January 4, 2024
- US Economy Crashed in December – Nope, See Update January 3, 2024
- Macro Liquidity – The Party’s Over January 1, 2024
- Dealers Stay Extended December 16, 2023
- This Chart Tells Us Exactly When the Bull Market Will End November 26, 2023
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