That’s the latest 5 day cycle projection. But there’s a little matter of round number resistance to be handled.
Also, hourly indicators are on the sell side with a negative divergence since yesterday. If we get an hourly close below 3282, I might …
As projections rise, prices are rising to catch up with them as concurrent up phases grow long in the tooth. But momentum and cycle indicators remain bullish. Here are the latest projections and suggestions.
The hourly chart looks like a slinky climbing stairs. The next move will be up.
No.
Wait.
Down.
Or.
Oh, never mind.
But play both sides. Which is what we’re doing. Broad market indicators say the market is going higher, but cycle screens say, “Whoa, not so…
Well the news is out. U.S. Economy Posts Sharpest Downturn on Record, says the Wall Street Journal. “The U.S. economy contracted at a record 32.9% annual…
More of the same, and the skies are not cloudy all day.
Then it’s the trader’s enema. Trading ranges are meat grinders. The edges are often not well defined.
Macro liquidity is growing at a historically rapid pace, but much slower than in the second quarter. And there are signs of trouble brewing. Here’s what they are and what to do about them.
Influences on USD include trade flows, including tourism, Financial flows, and pure trading flows. I’ve often wondered which is dominant.
Normally this time of year Americans are selling dollars and buying euros heavily because of travel. More Ame…
UPDATE 10 AM ET
Whiplash! The early selling was a shakeout.