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Launchpad Set Up 6/5/24

This is a syndicated repost published with the permission of Stool Pigeons Wire at 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 ES was making a triangle yesterday. It broke out, but then stalled. Now the pattern has morphed into a launchpad with a 5 day cycle projection of 5325. Resistance is indicated 5320-25, and a little later in the afternoon around 5340. Clearing 5302 right here at 5:50 AM ET, would suggest a meltup.  Swing Trade Screen Picks – Still Tilted Buy June 3, 2024


Looking at my personal swing trade screens, I’ve missed a few opportunities in the past couple of weeks as waves have tended toward shorter than usual durations. So I have tweaked the algos a little to pick up trigger signals a little shorter than usual, in addition to the usual ones. This expands the number of charts I need to look at from a handful to between 10 and 20. Still manageable.

This morning there were 124 charts on the sell side, out of the 1316 NYSE and Nadsaq issues that meet my price and volume minimums. Of those 124, 19 triggered yesterday. There were a total of 57 with buy structures, of which 8 triggered yesterday.

For moron the markets, see:   

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