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.
Europe is on holiday today, so it’s kind of quiet, but of course US stocks start the week on an up note. What else is new?
The ES 24 hour S&P futures made a new high overnight. They’re pulling back in the 7-8 AM hour, with trend support upcoming at 5260-63. That line will be around 5265 as NY opens.
The overnight high was about 5275. The overnight high base breakout measures to 5315. The 5 day cycle projection is 5295. The 5 day cycle is out of whack, now more than 6 trading sessions past the last peak. So it’s a horse of a different fire department. I’m thinking trending mode until it tells us otherwise. That would necessarily start with a break of the aforementioned support trendline.
Liquidity is seasonally bullish. The End Is Not Nigh
CURRENT LIQUIDITY TRADER REPORTS
- 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
Join the conversation and have a little fun at Capitalstool.com. If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter.
