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Hourly Pattern Still Bullish 1/26/24

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.

The ES, 24 hour S&P futures are still in a bullish pattern. Higher highs, with the exception of yesterday, so far, and higher lows, although the angle of ascent has decreased sharply. The action is now in a trading range of 4860-4903. We wait for the breakout either way to give us a sense of direction from here.  There’s no doubt about it. The outcome is absolutely, positively uncertain.
Of course, on the bigger picture, not so much. It’s 5050 For Sure

135uyy

Meanwhile, the Fed’s RRP slush fund fell to another new low yesterday at $551 billion. Tick tock. Primary Dealers Are Maxed Out Again

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For moron the markets, see:

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