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Anytime oscillators hang around the zero line, the next move is likely to be explosive when they finally break away, one way or the other.
Yesterday I warned about that and, “Sho Nuff” when the broke the zero line, down they went.
Now we have a bit of a crash channel working, but the 5 day cycle projection on the ES 24 hour S&P futures is only 5010-15, and we’re there. Doesn’t guarantee the end, but be on the lookout.
Nothing important is planned for today anyway.
Oh.
Wait.
There are spport lines between 5015 and 5000 that need to be watched. If they break, what had looked like a bottom pattern will turn into a top pattern. Lots of false moves.
For moron the markets, see:
- Swing Trade Screen Picks – Hidden Gems April 29, 2024
- They Walked the Line April 29, 2024
- Gold to Hibernate Till Winter April 24, 2024
- Watch Closely as Warning Signs Abound April 23, 2024
- Warning Signs Abound, But Ignore Them for Now April 16, 2024
- March Withholding Tax Collections Actually Stunk April 5, 2024
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