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The ES has gone sideways since Friday’s close. All short term uptrend lines remain intact. Hourly indicators have rolled over a bit, but they’ve stayed in positive territory so far in the pre market. A little dip below 5617 could trigger sell signals and a pullback to the first target area around 5585. But if they stay firm at 5617+ then the path of least resistance will be upward. There’s an unmet 5 day cycle projection of 5700 hanging out there beckoning.
For moron the markets, see:
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- Here’s Hard Evidence that the Slowing Economy Narrative is False September 8, 2024
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