Today is 7-11 or doubles day.
Just FYI.
It’s also a day where the bulls, if at first they don’t succeed, try, try, try again. This is unlike the bears who, when things aren’t going their way, throw up their hands in despair and disgust, cover their shorts, spit over their shoulders, and walk away.
Which, by the way, is the way I think it should be done.
As for today, we have the makings of another uptrend channel on the ES, 24 hour S&P fuguetures hourly chart. 3860 has also been confirmed as a short term sport level. If it hold in the pre market, Monday should be an up day.
Likewise, if the bulls try but fail to break 3890 on the upside, and then the thing rolls over and drops below 3860, the second half of the day could be all bear.
That’s how the intraday picture. For the longer view that concerns most of us, see Advantage Bulls, But It’s Over If This One Thing Happens This Week.
To better understand the big picture right now so that you can take the correct action when the time is right, check out the following:
- Advantage Bulls, But It’s Over If This One Thing Happens This Week July 9, 2022.
- Recession? What Recession? July 5, 2022
- For Swing Trades this Week, It’s Politics As Unusual July 5, 2022
- Gold’s Worst Projections Are Happening July 6, 2022
- Stocks Are Even More “Dover Sole” Versus Liquidity June 28, 2022
- We Knew QT Would Be Devastating, But You Ain’t Seen Nothing Yet June 21, 2022
- Dealers Assume the Position, as 75 BPs Coming Wednesday June 13, 2022
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