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Whatever you think about the markets, you need to think again. And you probably still won’t get it right. But don’t feel bad. You have lots of company. 🤣🤣
Clearly the market thinks it knows exactly because it has been locked tightly to the same price since last night. We have reached perfect equilibrium where the future is settled, and all possible outcomes are perfectly discounted. Even all the hourly oscillators are stuck near zero.
For now, we’re looking at a range of 6050-6060 on the ES. I don’t expect much when it ultimately breaks out. Next resistance and spport levels are only 15-20 points away. On the upside, it would be a triangle breakout, so I’m expecting a little upside drama if it decides to go that way. If it clears 6080, then we’re almost certainly in a launch.
If the initial move is down, the lower line of the triangle is at 6020-25 this afternoon. That would need to be broken to get on a downhill roll.
And away we go. Fakeout Shakeout, Volatility is Back 1/27/25
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