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That’s right spport fans. There’s a downtrend channel on the hourly chart of the ES, 24 hour S&P futures. But catch it while you can. The top of the channel will be at 5162 as of the 9 AM tick in New Yak. That descends to 5155 at 4 PM when the boyz will go home for the weak end.
Even if they break that line, it may not get far. There’s uptrend resistance running from 5165 to 5168 today. Only if they clear that, will it be off to the races again. A mud fight seems more likely.
OTOH, the 4 day iteration of the 5 day cycle seems to be back, and the 5 day cycle hourly oscillators have edged to buy signals.
Advantage bools.
Unless they take out 5145. Then I think we see 5123 again.
Chow for now. It’s past lunch time here. Market Flies Blind in Thin Air
For moron the markets, see:
- Gold Due for Pause that Refreshes March 15, 2024
- Markets Create Money, Money Talks, Markets Listen Etc. March 12, 2024
- Market Flies Blind in Thin Air March 11, 2024
- Swing Trade Screen Picks – What to Do With Profitable Week Behind March 8, 2024
- Gold Sets Up for Major Breakout March 6, 2024
- The Magic of Rising Stock Prices Driving Liquidity, Driving Prices March 4, 2024
- Tax Collections Took Off in a Stunning Reversal in February March 3, 2024
- We Don’t Need No Stinkin’ Fed – We Make Money from Nothing February 26, 2024
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