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Breaking the Zero Line 5/1/24

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.

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.

14mrm3
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:   

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