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Air Pockety 4/11/24

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.

The market has developed a penchant for air pockets within this recent trading range. They’ve been in both directions. One of these days an air pocket will open up outside the range, and there was be no coming back from it. But which way. That’s the question.

Is today the day? Not likely. We’re due for a 5 day cycle low, and the 5 day cycle projection of 5230 has been reached. However, not like doesn’t mean impossible. Crashes happen when bottom setups fail.

Looking at the 2 hour bars of the ES 24 hour futures for today, there are numerous possibilities evident. One is that the low might be tested here at the NY open, hold and reverse into a rocket launch. Another is a break of the lows. But then what? 7 points? 20 points? 30 points? That last support around 5195 is the biggie.

The tape must be watched today. If you are short, only fire when you see the whites of their eyes. Swing Trade Screen Picks – Well Hedged List Gives Steady Performance in the Wild Market

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Update 8:35 AM ET:

There you go. Rocket engines fired at the double bottom. Chef Says Choose One from Column A Or One from Column BApril 8, 2024

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For moron the markets, see:   

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