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You Just Can’t Keep a Good Market Down 3/27/24

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.

We will test that maxim in the 7-8 AM hour in New York as the ES 24 hour S&P futures run into a trend resistance convergence at 5233. If they clear that little obstacle, there will be immediate running room to 5250.

If they don’t clear it, they won’t have far to go to hit the first spport level, which is around 5218-20. If they break that, then they should pull it back to test yesterday’s low around 5205.

So once again, it doesn’t look like a very exciting day again. Only if the market breaks out of that range is a real move likely. The 5 day cycle up phase hasn’t gotten off the ground and a high is due in that cycle today or tomorrow. Mid day Thursday to Friday’s close and perhaps Monday present a better chance of a breakdown from this range. That assumes no upside breakout today.   The End Is Not Nigh

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For moron the markets, see:   

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