4:45 AM ET
We have arrived at that fork. Downtrend meets uptrend on the hourly chart of the ES fucutures here at 4:40 AM ET. Hourly oscillators have just edged to the sell side. The 5 day cycle projection still points to 3400 but multiple support lines loom 3425-3415. All rise to 3420-25 when the judge enters the courtroom at 9:30.
Those lines and the pivot low must be broken for the jury to render a gullty verdict. If they hold, I’d look for a big move up today. If they don’t hold, we’ll go down, but it will be choppy, with BTFD levels every 10 points or so.
Click to enlarge.
Interesting perspective on the two hour bars. If the oscillators do roll over below the zero line, odds are that we’re in for a big drop.
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At 5:20 AM
Sproing.
Technical term.
30 min bars. Click to enlarge.
