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Today 4880, Tomorrow the World 1/22/24

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.

That’s right, today’s 5 day cycle projection on the ES 24 hour futures chart is 4880. That’s also the conventional measured move implication of Friday’s high base breakout.

Hard to believe, Harry.

The See No Evil Market marches on.  There’s a rising trendline from 4855 to 4862 when NY trading opens, that would need to be broken to end this phase of the meltup. As of the NY close, that line will be at 4880.

That’s the meltup channel. Don’t get too excited if that breaks. There are multiple trendlines and cycle lines coming up below that which should stop any pullbacks initially. The first of those is running nearly parallel to the channel line, about 20 points below. So there’s not much chance of a big drop from here in the short run. It’s 5050 For Sure

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For moron the markets, see:

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