The ES 24 hour S&P futures are threatening to make a lower low here, just after 8:30 AM in New York. It needs to drop under 4124. An hourly close below that would complete a top pattern that measures to around 4080. The current 5 day cycle projection is 4120. Cliffhanger coming up.
On the other hand, if they don’t take out this low, the uptrend could accelerate.
For moron the markets, see:
- Is Gold Still Ticking After This Licking? April 19, 2023
- The Fed’s Circle Jerk, is ‘Twerking? April 18, 2023
- Here’s How This Week Will Show Whether Bulls or Bears are in Trouble April 17, 2023
- Here’s How We Know That Doom Has Already Arrived April 6, 2023
- Macro Liquidity Says No Way Jerray! April 4, 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
- Here’s Why There Will Never Be Bull Markets Until This One Thing Happens February 26, 2023
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 folder.
