The ES 24 hour S&P futures hit their 2-3 day cycle projection of 5105 overnight and promptly got whacked. But lest you, my bear friends, get too emboldened, the pattern will still be bullish, unless and until they break spport lines at 5080, 5075, 5070, 5065, 5060, 5055, and yea, oh ye who hold out hope, yea, even 5050, of which I think the chances are less than 5050.
In fact, I think the 5050 chances were greater on the upside when I first made the call back on January 22, than on the downside now, despite being closer to it now. Charts Say- All Important Monday
For now, looks like they’re headed into a 5 day cycle down phase until Tuesday or Wednesday. My ill informed guess is that it won’t amount to much, but I’ll take a second look at that conclusion depending on whether they can manage a break of even though initial spport lines.
Trading well is about always knowing how to find a good spport to play with.
I got a swing trade chart picks update coming before the open. The current list is up 7.4%, a nice jump from last week’s 4.8%.
For moron the markets, see:
- Charts Say- All Important Monday February 26, 2024
- Gold Holds for HoldFebruary 24, 2024
- Swing Trade Screen Picks – What Happens When Not Holding the Mag Seven February 23, 2024
- Market Sentiment vs. Liquidity Reaches Historical Hysterical February 19, 2024
- This Will Be the Week That Was February 11, 2024
- What’s Up with Down Withholding Tax Collections February 4, 2024
- Primary Dealers Are Maxed Out Again January 24, 2024
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