Today, I have arrived in Rothenburg ob der Tauber, supposedly the most beautiful village in Germany.
We’ll see.
Meanwhile, the stock market has had another breakout. This time from a high base built over the past 5 days. It’s another bottom pattern at a top, a reverse head and shoulders that will only be apparent in retrospect. It has a conventional measured move implication of 4620 on the ES 24 hour S&P futures. It has already blown out a 5 day cycle projection. There’s a 2-3 day cycle projection of 4610-15.
The 5 day cycle duration has shortened to a 4 day frequency in the last 2 waves. That would put the next expected high late Friday or early Monday.
Upsidaisy. Market Looks Poised
For moron the markets, see:
- Gold Marks Time July 26, 2023
- Market Looks Poised July 24, 2023
- Correlations Don’t Matter Until They Do, Like Now July 23, 2023
- Swing Picks Following Gold’s Yellow Brick Road July 18, 2023
- Finally, A Few ShortsJuly 17, 2023
- Young Bull Growing Stronger July 17, 2023
- We’re Not There Yet July 16, 2023
- Stocks Are Scraping the Ceiling July 9, 2023
- Withholding Tax Rebound Sets Up a Bearish Fed Catch 22 July 6, 2023
- Golden 13 Week Cycle Turn and Other Hopeful Signs 7/5/23 July 5, 2023
- It’s Not Your Daddy’s Liquidity Anymore July 5, 2023
- We Now Know What is Driving the Rally June 20, 2023
- The Fed’s Slush Fund is Working June 16, 2023
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