So what else is new. Another bullish intraday pattern on the S&P fugutures (ES). The mini base breakout has a conventional measured move target of 4745. However, the 2-3 day cycle projection is only 4735 so far. There’s no 5 day cycle projection yet.
Trend sport is at 4685, rising to 4692 at the NY open, but I think that bears would need to get it under 4680 to regain control. Then there would be a shot at another breakdown. Resistance is indicated around 4712 and 4725-30. If cleared, they can push it to 4750-60 late in the day.
Cryptonite Update-
Our favorite whipping boy Buttcoin (BTC) found support at 42K (oops! broken since I wrote that early this morning). No surprise there. 39,678 is the critical sport level. If they get it below that, Cryptonite falls on all the crypto superfans.
Meanwhile, will goldbugs ever have their day?
Just in case you missed this little bit of fun. Recorded 12/28/21
Meanwhile, the big picture.
When Boring Isn’t Bullish – Gold
It’s The Most Blunderful Time of the Year
Wheels Are Moving in Slow Motion for the Top
The Rigor Mortis Stock Market Rally
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