The S&P hourly 24 hour ES fugutures chart seems to have set up a beautiful bullish base.
Pass or fail?
The answer is 3960.
Above that, they’ll run it back to 4000, with a measured move objective of 4050-4080.
Other than that, it’s wait and see for bears. They gotta take out 3905. Then we can talk.
For the big picture:
- Stocks Are Ahead of the Curve May 23, 2022
- Market Indicators Show Crash Risk Remains Intact May 22, 2022
- 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
- Dealer Positions Show It’s Not Getting Better and It Should Get Worse May 15, 2022
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