Rule Number One of Modern Technical Analysis.
All chart patterns are bullish. It doesn’t matter what it is. If it’s a double top- Bullish. Head and shoulders – Bullish. Flag, wedge, diamond, saucer, cup and handle, reverse cup and handle, three p…
You can see it clearly. The ES fucutures are near the upper bound of a trend going back to the beginning of January. A bunch of trendlines are clustered around 3920-25.
The uptrend channels are being tested, but so far, not violated. The number to watch in the 5 AM hour in New Yawk is around 3890. It’s rising at about 1 point per hour. To keep the trend intact it would need to be at 3895 or better at 10 AM ET.
Mike Tyson famously said, “Everyone has a plan until they get punched in the mouth.” OK, so the market didn’t quite punch us in the mouth last week, but it did lull me to sleep last weekend. No worries. This week, there were so many charts with buy signals, I’m going all YOLO.
Withholding tax collections have exploded upward over the past month through February 3. Other date confirm the strengthening. Here’s what this means for portfolio strategy and trading tactics.
OK, so maybe it won’t get there today. Or maybe it will.
After all, this is done.
Looking at a 30 minute bar chart, the 2-3 day cycle projection now looks 3910 on the S&P fucutures. That looks eminently doable once they clear resi…
Unfortunately, the technical picture has turned darker in the short run. The wallstreetbets crowd bullish raid on silver hasn’t meant much for the mining sector either.
Here’s a 2 hour bar chart again. If the oscillators turn up from this level, we could see another yooge upleg. The level to watch is 3835.
I give you a 2 hour bar chart for perspective. This is unquestionably, absitively, posolutely, the top of this move. I mean. You can tell. Right?
Unfortunately, the technical picture has turned darker in the short run. The wallstreetbets crowd bullish raid on silver hasn’t meant much for the mining sector…