The bulls continue to fight the Fed, breaking the First Rule of Law. And what happens when you fight the Fed? This. The ES 24 hour S&P futures hourly.
And this:
That’s the 20 year Treasury ETF hourly. January rally round trip.
If they don’t clear 4015 on the ES today, bulls will suffer more pain. The busted top pattern has a conventional measured move target of 3910. Probably won’t happen all today, but I wouldn’t rule it out either. Normal 2-3 and 5 day cycles are out of synch, so timing is just a matter of sport and resistance today.
Ciao for now.
Meanwhile, for the big picture. Bears Challenge Bulls to A Duel – Here’s Who Gets Shot
For moron the markets, see:
- Gold’s Temperature Reaches Absolute Zero February 22, 2023
- Swing Trade Screen Picks – Ambiguity Central February 21, 2023
- Bears Challenge Bulls to A Duel – Here’s Who Gets Shot February 21, 2023
- You Can Now Follow the Diabolical Usual Suspects February 16, 2023
- One Gold Indicator Needs to Whipsaw or Will Signal a Secular Top February 14, 2023
- Swing Trade Screen Picks – Meat Grinder Prevails February 13, 2023
- How Bears Could Take Charge This Week February 13, 2023
- US Treasury Throws A Shocker to Reverse the Stock Market Outlook February 9, 2023
- Composite Liquidity Should Be Bearish, Here’s Why It’s Not Right Now January 26, 2023
- Withholding Taxes Fell Sharply in January February 3, 2023
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