Meanwhile, if this is the down phase in the ES, if you’re a bear, you don’t wanna see the up. The 5 day cycle down phase is under way, according to the hourly chart oscillators on the ES, S&P 500. But so far it’s flat, and its projection is only 4517-18.
Hourly channel sport is currently around 4512 as of 11:28 AM CET, 5:28 AM New York Times. That line rises to around 4517 in the NY opening hour.
The first target of an upturn from here would be the overnight high of 4541. Clearing that would clear the way for a move to test the all time high of 4549 reached last month. And if they clear that, we’d probably be looking at 4570-75 this afternoon.
This is just the intraday look. For more: Bullish Intermediate Term Omens
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Meanwhile, check out BTC. One thing I’ve noticed about it is that it tends to honor chart patterns and Hurst Cycle projections. It now has projections of 71,000 and 91,000, as shown on the chart. And the conventional measured move target of this high base breakout is 101,000 give or take a few shekels.
Wait. That chart looks familiar. Where have I seen this before?
Hmmm….
The blind leading the lame and halt?
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