I look at this hourly chart of the ES, 24 hour S&P futures, and the uptrend looks spent. But the 5 day cycle projection has risen to 4080. And there’s clearance to 4072, the next resistance trendline. In addition, so far it is holding above the downtrend line from the February 2 peak.
No reason to be bearish today. But if they can push it under 4049, then maybe.
For moron the markets, see:
- Gold Takes a Breather Before Lunar Launch March 30, 2023
- Swing Trade Screen Picks – Traders, Take Your Naps March 29, 2023
- Watch Out For This If the Market Comes Unstuck March 27, 2023
- How to Play When Fed Changes the Game, Not Just the Rules March 19, 2023
- Systemic Meltdown Under Way As Dead Bodies Finally Start Surfacing March 12, 2023
- February Withholding Taxes Say – Fade the Jobs Report! March 2, 2023
- Here’s Why There Will Never Be Bull Markets Until This One Thing Happens February 26, 2023
- You Can Now Follow the Diabolical Usual Suspects February 16, 2023
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