The ES 24 hour futures crossed the entire trading range overnight and has slightly breached the February 12 high. This is where it gets interesting. The 5 day cycle projection of 5065, suggests that the upside is all but done for now. But this isn’t the end. This breach suggests that even if the market pulls back here, it will make another attempt to at least test, if not break out. And if it does, the high base breakout conventional measured move target would be 5175.
I don’t think it will get there today. But you never know.
What a market. 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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