The American Society of Stocktologists (ASS) brings you this 2 hour bar chart of the ES, S&P 5+495 fugutures for perspective. At 6:30 AM in New York, as US traders arrived at their screens, a breakout was in progress. The conventional measuring implication of this base is, ahem…
4980
Now for the usual hourly bars.
It’s just as bad. We have a nice little meltup channel working. Only needs to be below 4765 by the NY open to break it. But there’s a 5 day cycle projection of 4,800 that would be the target for today. First needs to clear resistance at 4760 and 4770.
Meanwhile, the big picture.
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