Ah, geeze. There he is again. You know what that means. Bears are in hot water. At least in terms of the ES, S&P 500 futures at 7 AM in New York.
If the bulls, and chicken (or prudent 😉 bears covering shorts, manage to push it through 4480, up we go. But I’m not sure it will be an easy go. There are multiple lines of resistance at 4495-98. But if they get past 4500, they’ll have running room to 4513. So it looks like more of a slog than a launch.
On the other hand, if sellers (or lack of buyers) manage to push it below 4460, that would break the uptrend, and it would come from a negative divergence in 5 day cycle oscillators. So something could happen on the downside.
For the big picture.
- Give It To Me One More Time, Goldie March 21, 2022
- Screens and Picks Keep Buy Side Tilt March 21, 2022
- Dog Market Gets the Zoomies March 20, 2022
- Seven and a Half Weeks of Bullish Liquidity Ahead March 19, 2022
This is a syndicated post, which originally appeared at Stool Pigeons Wire at Capitalstool.com. View original post.
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