If that was the extent of the correction, buckle up. A new 5 day cycle up phase is under way. We might see an interim 3 day cycle high on Thursday, but the next 5 day cycle high would be due ideally until Monday. So count on today being an upsy-daisy.
It’s too soon to project even a 2-3 day cycle high. On a 1 day basis, the target is 5125. We’re well on the way to that here in the premarket. There might be some resistance at 5110, but if they get through that, I’d look for 5149 PDQ. How Stocks Can Forestall the Inevitable
Meanwhile, they got a rally going in the bond market. Looking at a short term target of 4.05 in the 10 year. The Magic of Rising Stock Prices Driving Liquidity, Driving Prices
See also Tax Collections Took Off in a Stunning Reversal in February.
How about that Beerish Engorging Candle in BTC yesterday! I’m not impressed. Talk to me when it breaks 58k.
I got a gold update in the works. Looking good. Here’s the previous update on that. High base breakout and short term cycle projection both point to 2200 PDQ.
For moron the markets, see:
- The Magic of Rising Stock Prices Driving Liquidity, Driving Prices March 4, 2024
- How Stocks Can Forestall the Inevitable March 4, 2024
- Tax Collections Took Off in a Stunning Reversal in February March 3, 2024
- Swing Trade Screen Picks – Read My List, No New Shorts March 1, 2024
- We Don’t Need No Stinkin’ Fed – We Make Money from Nothing February 26, 2024
- Gold Holds for Hold February 24, 2024
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