Bulls are a stubborn lot. Here’s what this hourly chart of the ES futures tell us.
Chart not loading. I’ll be back.
Today’s QE and where to get the schedule and impacts.
It sure looks like a consolidation. Wouldn’t it be something if it broke down!
The future(s) is broken.
The Fed shoots them.
Serious trend break on this chart.
Back to resistance this morning. That was posted earlier this morning. Now it should say “back through resistance.”
That said, there have been warnings for several weeks.
Excess liquidity kills volatility and causes bids to rise relentlessly. But when you zoom in to hourly or shorter, it’s whippy. Whipsaws and false breakouts galore. They’re brutalizing day traders.
Just before 8 AM in New York, pullback to bottom of hourly trend channel. 2 of 3 indicators on the sell side and the other is close. 2-3 day cycle projection still 3359.
Jobs Friday. Tax data said for July said yooge upside surprise. The as/of date is July 12. Meanwhile- This is a 45 minute bar chart. At 3:30 AM it’s saying we’re either at the bottom of this pullback, or half way down. 3335 is key hourly resistance trend.
