Would you buy it here? 9 month cycle projection looks 46,000ish.
On the ES, 24 hour S&P futures hourly chart, the uptrend channel is fully intact with the market coming off the trendline here in the premarket around 6 AM ET. That line is currently at 4752, rising to 4757 in the NY opening hour and 4767 at the close. Clearing 4766 would allow for a move to 4796-97 straight away. And then? Nothing is Broken
Also had some suggestions on the buy side. Swing Trade Screen Picks – Market Lacks Conviction, But 3 New Picks Have Potential
Meanwhile, the 10 year Treasury yield has pulled back from the 200 day MA. The daily oscillators for intermediate term cycles still support a move higher in yield. Clearing 4.10 would open the way for a move to 4.25-30 in the next couple of weeks. But failure is always an option. US Economy Crashed in December – Nope, See Update
For moron the markets, see:
- Swing Trade Screen Picks – Market Lacks Conviction, But 3 New Picks Have Potential January 9, 2024
- Nothing is Broken January 8, 2024
- Critical Pullback for Gold January 4, 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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