They’ve broken the back of the rally, but haven’t resumed the downtrend yet. The ES 24 hour S&P fugutures are in suspended animation, waiting for the other shoe to drop. They have set up a trading range of 4105 to 4169 on the hourly chart within which, all movement will be meaningless.
The bowel movements before the shitstorm, if you will.
For the big picture:
- NEW Quantitative Tightening is Here, and the Effect Will Be Devastating June 1, 2022
- A Great Week for Swing Trade Screen Picks May 31, 2022
- Shot from Guns, This Market Looks Like Puffed Rice May 30, 2022
- We Hold Our Gold Miners, Add Another May 24, 2022
- Even Steven in This Week’s Swing Trade Screens May 23, 2022
- Stocks Are Ahead of the Curve May 23, 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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