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Launchpad Rebuilt, Countdown to Liftoff Resumes 3/14/24

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.

Yesterday’s little launchpad fire on the ES, 24 hour S&P futures has been fully extinguished, and the pad has been rebuilt. The rocket engines are intact, and a new 5 day cycle buy signal has initiated the countdown to liftoff. The 5 day cycle projection is 5250. Obviously, resistance at 5189 must be cleared. Assuming that it is, then the high base breakout would have a conventional measured move target of 5260-70.

Will it get there today? Probably not. There are trend resistance lines at 5190, 5200, and 5210 that must be cleared, and that could take a little chewing.

On the slight chance of a pullback, 5180-5175 looks like spport. Only if they break that is there even a chance of reversal.

I’ve actually gotten used to being bullish. Obviously, we’re doomed.  Market Flies Blind in Thin Air

13zrns

For moron the markets, see:

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