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.
So I open my charts today and see this and say WTF! Topping on the Cake
On the hourly ES, 24 hour S&P futures, the downtrend is broken, but there’s no handle breakout yet. For that, it probably needs to clear 5500. The conventional measured move target would then be 5580.
The 5 day cycle up phase is under way, but they’ve been lasting less than 2 days. in recent cycles. So maybe a peak late today or early Turdsday.
Or maybe not. Topping on the Cake
Today is FOMC Circus day. Enjoy.
Today, I’m enjoying a semi vacation day in one of my favorite cities in Europe, Krakow. I’ll be back online later this afternoon with an update. I’m also behind on Liquidity Trader Publication. It’s coming. This week’s report will focus on Primary Dealer Positions and Financing. You won’t want to miss it!
For moron the markets, see:
- Topping on the CakeJuly 29, 2024
- Gold Breakout Failure Signals Big Trouble July 25, 2024
- End Stage Hysteria Breaks July 24, 2024
- Swing Trade Screen Picks – Short-term Cancer Culture July 22, 2024
- The Sky’s the Limit July 18, 2024
- Picking Up Nickels in Front of a Steamroller July 9, 2024
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 folder.
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.
