The ES 24 hour S&P futures have been riding a 12 day uptrend line in the pre market. Which way will it go from here?
We have an epic extension on the hourly oscillators so odds favor a downside break and a little correction, but if it goes up instead, the move is likely to be explosive. 3-2-1 blastoff. If this sucker clears 5030, we’d be looking at 5060 in a heartbeat. If it breaks the trendline, first stop would probably be 5010.
5030 was the 2-3 day and 5 day cycle projection. So again, odds are down first, or at least an extended consolidation before another liftoff.
For moron the markets, see:
- This Will Be the Week That Was February 11, 2024
- Swing Trade Screen Picks – Adding 3 Shorts for Each Long February 6, 2024
- Is This the End, or Only the Beginning February 5, 2024
- What’s Up with Down Withholding Tax Collections February 4, 2024
- In the Goldrums February 2, 2024
- Primary Dealers Are Maxed Out Again January 24, 2024
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