All eyes on the 5163-5170 band of resistance 5163-5170 on the ES, 24 hour S&P futures hourly chart. If cleared it could be the start of a genuine half day rebound. But they’d face still more resistance at 5178-5187 in the NY opening hour. Clearing that could set up a furious rally.
But if they fail to clear any of these levels, the decline will resume. The lower the failure, the more vicious the drop would probably be.
Projections say only 5135 on a 2-3 day cycle or 5 day cycle basis. A 4 day basis points just a bit lower, to around 5125. There are also spport lines around those levels. The problems would start if they don’t hold. Then we’d have a possible crash setup. Low odds on that. I don’t see it, but I’ll hold for it for now. Swing Trade Screen Picks – Extended Uptrend Yields Just One New Pick
For moron the markets, see:
- Banking Data Says This Is Last Hurrah for Stocks April 3, 2024
- Gold Goes Space Needle April 1, 2024
- Swing Trade Screen Picks – Extended Uptrend Yields Just One New Pick March 31, 2024
- Nowhere to Go but Up March 31, 2024
- The End Is Not Nigh March 26, 2024
- Don’t Stop Never Disbelieving March 24, 2024
- Markets Create Money, Money Talks, Markets Listen Etc. March 12, 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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