That’s where stocks came from over the weekend and where they appear to be heading this morning. At the moment, there are no projections outside of Friday’s lows or highs.
Suddenly, around 5:20 AM ET there seems to have been a tick that created a little upside gap in the ES 24 hour S&P futures. What’s that about? Perhaps the start of a 3 day cycle up phase. Not much to do I guess, but drink coffee and wait patiently for the morning dump. But if they’re above 3950 when NY opens, forget about the dump.
Can’t see it, but as I post this at 5:30 AM ET, they’re right at the red downtrend line.
Market update and swing trade chart picks coming up later this morning.
For moron the markets, see:
- Gold Hones In On New High Projections December 9, 2022
- Federal Tax Revenues Are Slowing December 6, 2022
- Swing Trade Screen Picks – Picks are Balanced this Week December 5, 2022
- Bears Last Custard Stand December 4, 2022
- Bears Beware, Money Managers Are Finally Spending their RRP Slush Fund November 30,2022
- Swing Trade Screen Picks – Read My Lips, No New Longs (A Few More Shorts) November 28, 2022
- Major Inflection Point Here to Determine Whether Bull or Bear November 28, 2022
- Fed Policy Will Stay Bearish Until It’s Too Late November 20, 2022
- The Repeal of Rule Number One, Don’t Fight the Fed November 14, 2022
- Bond Market Rally is Technically Valid but Belies the Facts November 12, 2022
If you’re serious about the underlying forces of supply and demand that drive the markets, join me!
If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter.
