The hourly chart of the ES 24 hour S&P futures has broken the uptrend that began in early January, but the break doesn’t mean it’s over. As you know, it ain’t over till it’s over. Or until the fat lady sings. Neither has yet happened.
Meanwhile the ES triangulates toward 4963 at 1 PM in New York, at which time the market will have reached a perfect equilibrium price and will shut down in recognition. No one knows when it will reopen, or at what price. Stay tuned to your local business news channel for the latest developments.
Any price movement between 4955 and 4977 will be meaningless. When that range is broken, we’ll get a little move. There’s more room for something significant on the downside than the upside. But that’s only very short term. Like today and Tamara. Charts Say- Read My Lips, One More Rally
For moron the markets, see:
- Charts Say- Read My Lips, One More Rally February 20, 2024
- Market Sentiment vs. Liquidity Reaches Historical Hysterical February 19, 2024
- Swing Trade Screen Picks – List Recovers Both Ways.February 15, 2024
- With Modest Hopes for Gold, 4 Mining Picks to Swing February 13, 2024
- This Will Be the Week That Was February 11, 2024
- What’s Up with Down Withholding Tax Collections February 4, 2024
- Primary Dealers Are Maxed Out Again January 24, 2024
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