Here’s the 2 hour bar chart. While we still have an hourly bear market, the 5 day cycle count and pattern of the past two weeks certainly looks base-y. The levels to watch on the downside are 4327 and 4309. Break those and we could have a bear party.
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When all feels hopeless is usually when a bottom arrives. Right now feels semi hopeless. Maybe not a good thing.
If this was a daily chart, it would be a bear market. It’s not. It’s just 2 hour bars. And last week’s triangle breakout looks like a bottom. The current pullback would be a test of the low, and it appears to have reversed in the last hour, as of 6 AM …
Ok. I’m sticking my neck out. But the 5 day cycle projection has been hit on the S&P futures in overnight trading in Aids Ya and Your Rope. And there’s a wee bit of a possible bottom pattern in the price graph and hourly oscillators.
Yes, thi…
Including 5 holdovers from last week, there are now 13 open picks on the list, all longs.
From a time perspective, the 10-12 month cycle ideally should be in a top phase. But it surpassed its last cycle projection of 4440 so it is probably in trending mode. Both the 6 month cycle and the 13 week cycles appear to be trending.
I’m sorry folks, but this just isn’t a bearish pattern on the hourly. I mean the trend is, obviously. And the trend is your friend. But the pattern isn’t. Because this is a pattern. And what do we know about patterns, class?
That’s right.
All…
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There it is. Bullish.
No… wait.
Maybe bearish?
We’ll know today. For starters the 2-3 day cycle projection points to 4420-4445. The 5 day cycle projection also points to 4445. So the projections say, breakout ahead.
The key re…
The 2-3 day cycle projection is 4245. 5 day is 4220.
4280 and 4270 are critical sport levels.
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