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Yesterday Top, Today Bottom 3/22/24

This is a syndicated repost published with the permission of Stool Pigeons Wire at 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.

When you’re talking about the 5 day cycle, things happen fast. In an uptrend, up phases are skewed to the right in time. Down phases don’t last long. And a 5 day cycle low is ideally due today.

Yesterday, the ES 24 hour S&P futures failed to reach the 5 day cycle projection of 5275. It was stopped at a trend resistance line at 5260, which I had pointed out in the AM, as being a possible stopping point.

But as with everything, it’s temporary. There’s an itty bitty downtrend in force this morning, and an itty bitty head and shoulders breakdown that has a conventional measured move price target of 5220-25. But there’s a spport trend convergence in the 8-9 AM hour around 5225. These often market pivot points.

Ladies and gentlemen, place your odors. A Top is In, But Which One Is It



  On 3/21/2024 at 2:03 PM, DrStool said:

Meanwhile, my cycle screen swing trade list continues to do extremely well as trailing stops protect increasing profits. A stop was hit on two of the shorts, taking them out with nice profits. Another stop was hit on just one of the longs also taking it out with a nice profit and at a better price than its current price. As a result, the current performance the 11 picks on the list this week, including open picks and those stopped out this week, shows an average gain of 22.7% on an average holding period of 37 calendar days. For the month of March so far, including previously closed trades, the average gain is 13.7% on average holding period of 32 calendar days.

The tweaks that I have made recently to the screening algorithms have now completely automated the process and that appears to be working by removing my judgement from the process. 😁   Swing Trade Screen Picks – Adding Stops to Take Profits March 17, 2024


Past performance does not suggest future results.

As of today +22.8% with another stop picked off.

For moron the markets, see:   

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