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This Trend is on the Brink of Exploding 2/12/24

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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.


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