They don’t come any more perfect than this.
An hourly close on the ES 24 hour S&P fuguetures would be bad news, bears. The 5 day cycle projection is already 4125. A breakout from this obvious base pattern implies a measured move target of 4280. All in one day? Not likely, but I would not rule out making it to the top of the green channel at 4166 by the end of regular trading in New Yak.
For the big picture:
- Gold Miners Make Short Term Bottom, But Wait, There’s More! May 17, 2022
- Buys Beat Shorts Again in This Week’s Swing Trade Screens May 16, 2022
- Market Rebound Still Leaves Crash Risk Intact May 16, 2022
- Dealer Positions Show It’s Not Getting Better and It Should Get Worse May 15, 2022
If you’re serious about the underlying forces of supply and demand that drive the markets, join me!
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