Ours is not to reason why. Ours is to follow the charts or die.
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Meanwhile, lots of red on the hourly chart of the ES 24 hour S&P fuguetures. If they don’t clear 4420 this morning, there’s a good chance that they’ll subsequently break 4390. Even if they manage to clear 4420, the 4433-4445 area looms as big resistance. The Calm Before the Storm
For moron the markets, see:
- One Banking Indicator Is Flashing Bright Red for Stocks August 16, 2023
- I Liked the Buys Better Than the Sells August 14, 2023
- The Calm Before the Storm August 14, 2023
- Gold Sets Up August 8, 2023
- All We Need is a Few Good Shorts August 7, 2023
- Under the Big Top August 7, 2023
- More Supply is Just a Lie But Withholding Weakens August 4, 2023
- Let the Scary Pictures On Primary Dealer Financing Do the Talking July 31, 2023
- Correlations Don’t Matter Until They Do, Like Now July 23, 2023
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