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The Yawn of a New Day 6/10/24

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.

It’s a yawn not only because it’s boring, but because it’s another bullish setup. Bears need ES below 5339 at the NY open and/or below 5325 to have any semblance of any shot of any chance, of getting even a short term reversal out of this deadly dull market.

Never short a dull market, right?

Indeed, if they end up above 5376 today, the bottom at a top pattern will be validated, and the upside momentum would probably accelerate.

Here it is on 2 hour bars going back 6 weeks. I have circled the Friendly Brontosaurus Pattern.

1550wc

Of course, on Friday we also had the mighty Topo Gigio pattern. The question is which is stronger.

This is the type of analysis that differentiates the truly great technical anal cysts from the quacks and cranks.

1550zz

For moron the markets, see:   

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