The ES, S&P 500 24 hour continuous futures chart looks like the Nike logo this morning. The bulls are living up to their just close your eyes and fxxxing do it ethos. They’re buying with both fists as New York traders start rubbing their eyes and guzzling coffee in front of their trading screens. The 5 day cycle projection has risen to 3960.
Meanwhile the measured move target of the base breakout is like a restaurant menu. Take your pick. 3910? 3930? Or would you like some of the rare chicken? Just 3990 for all you can eat.
If the rally extends beyond 3910, no doubt there are some who would say that the target is 4070. You know how it is when some people say. D
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:
- As Good As it Gets, Before the End of Time July 18, 2022
- Are the Fed and Treasury Geniuses, or Just Lucky? Part One July 12, 2022
- More Bad News Ahead for the Golden Boys July 13, 2022
- 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
- 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
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