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Today’s Stock Market Outlook
The hourly ES, 24 hour S&P futures continue to trend relentlessly. They barely pull back as they trundle higher. A new uptrend channel has formed as the ES attacks Friday’s high of 6044. The lower line rises from 6027 in the 8 AM hour to 6047 at 4 PM ET. There will be no reversal without that breaking first. Then it would need to take out 6020 to create even the tiniest reversal pattern. Mewnwhile, a 5 day cycle projection points to 6055. Analyzing Short and Long-Term Market Trends and Patterns
Today’s Treasury Market Outlook
The rally in the bond market took the 10 year yield as low as 4.17 on Friday. It’s back up to 4.23 this morning. A rally is not sustainable now, but it could be after January 2. Here’s why. Warning Signs: Are Primary Dealers Indicating a Market Top?
Today’s Euro Outlook
The EUR/USD is pulling back to test last week’s low. It should try to rally again after that.
Today’s Gold Outlook
Meanwhile, gold holds at its long term trend channel and looks poised for an upleg. Gold’s Setup for End November
Today’s Bitcoin Outlook
Bitcoin keeps hovering just below 100k, and looks poised to explode. The problem is that cycle projections across intermediate and longer cycle time frames only point to around 95-96 k. And the high base breakout only measured to 94k. Those measures don’t support the breakout that everyone expects. 93k and 91 k are important spport lines that BTC bulls don’t want to see crossed.
For moron the markets see:
- Analyzing Short and Long-Term Market Trends and Patterns December 2, 2024
- Warning Signs: Are Primary Dealers Indicating a Market Top? December 2, 2024
- Top Stock Charts: This Week’s Insights December 1, 2024
- Gold’s Setup for End November November 26, 2024
- Ponzi Much? Understanding Treasury Debt and Market Fragility November 20, 2024
- Don’t Be Misled By October Tax Collections Collapse November 5, 2024
