The market successfully lifted off the launchpad yesterday and has established orbit. The 5350 level now looms large on the ES. It was the May 23 high, and is also a trend spport convergence level this morning. If it holds above that, the sky is the fl…
The ES was making a triangle yesterday. It broke out, but then stalled. Now the pattern has morphed into a launchpad with a 5 day cycle projection of 5325. Resistance is indicated 5320-25, and a little later in the afternoon around 5340. Clearing 530…
Is making me wait. This market can’t make up its mind. It’s too early for a 3 or 5 day cycle low. More work to be done. Likely heading for the Dick Trickle Memorial Point at 5274 this evening. Levels to watch in the meantime, 5248 for spport or breakdo…
The Treasury supply issue is still favorable for most of June. The Treasury has already resumed paying down T-bills thanks to a huge cash balance…
The latest screens resulted in 87 stocks meeting preliminary buy side criteria versus just 24 on the sell side. That compares with 79 buys and…
There’s plenty of room for doubt in both directions, but cycle projections say one more rally to go before a bigger top begins to form.…
He is still running.
If elected, he will not serve.
We now have an overnight double bottom on the 24 hour hourly ES with a modest positive divergence. This should be enough to give the 5 day cycle up phase some upside. 5230-35 is a serious o…
My gawd. I almost forgot to open this thread.
We finally got our 5 day cycle buy signal, but only after an overnight shakeout.
Why Gold’s Consolidation Is Probably Not Benign
LEE ADLER 3 – GOLD TRADER MAY 30, 2024
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Gold came within 16 points of its last 9-12 month cycle projection. It now appears to have topped out and entered a flat down phase.…
That’s the current 5 day cycle projection on the ES 24 hour S&P futures. It’s also a spport level, a hair above last week’s low. Meanwhile, hourly cycle oscillators are Dover Sole, down to the level where they bottomed last week. That doesn’t guara…