The ES, S&P 24 hour futures have been consolidating toward trend overnight and this morning. with the pre market just open in New York at 8:00 AM. The trendlines are currently clustered around 4105-4120. They move up to 4120-4140 at the end of regular trading hours today. The bears’ task is to take that out.
Failing that, the bulls would remain in charge.
If they do manage to break trend support, they’d still need to break 4080 to create a reversal pattern.
Meanwhile, I’ll start today by featuring my swing trade screen picks. Last week could have been a blockbuster, but I had shorts along with the longs, and that killed that.
Surprisingly, current screens then resulted in more shorts than longs. Here’s the post. Swing Trade Screens – We Had Longs, Yay! But…
To understand and profit from the big picture check out the following.
- Swing Trade Screens – We Had Longs, Yay! But… August 1, 2022
- To Blow Off, or Not to Blow Off – That Is the Question August 1, 2022
- Gold Has Made a Bottom July 28, 2022
- The Bond Rally That Fooled The Majority And Didn’t Help Dealers July 27, 2022
- 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
- Recession? What Recession? July 5, 2022
- Stocks Are Even More “Dover Sole” Versus Liquidity June 28, 2022
If you’re serious about the underlying forces of supply and demand that drive the markets, join me!
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