That’s right. Da bulls. A tad early for a 5 day cycle projection but if this just hangs around here for a few hours, we’ll be looking 4235-40.
When I zoom in to the 30 minute bars, I get a 2-3 day cycle projection around 4238, the old high. But trend resistance is indicated around 4229.
The cycle indicators are bullish on both time frames, although they’re getting near their usual top zones. That leaves room for a pop going into NY open. Then we’ll see what transpires in the early going in regular hours. Pullback or breakout?
RIght now, at 6:10 AM in NY, 4221 is the number to beat. Welcome back to your screens, stock traders!
If you are a new visitor, 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.
Meanwhile,
LEE ADLER
