Has it really topped out? Maybe not yet, but it’s close. As I pointed out yesterday, the conventional measured move target of a high base breakout would be around 5275, so let’s allow for that. However, the 5 day cycle projection stands at 5245-55, and…
The circus is in town today. Elephant droppings will be everywhere. Ringmaster Jerome Powell will lead the clowns as they parade around the ring, entertaining the crowd who will oooh and ahhh and laugh at their next trick and pratfall. The bigtop opens…
Monday reversed Friday and Tuesday morning reversed Monday. The hourly chart of the ES 24 hour futures is starting to look toppy as bonds stand poised to resume their recent selloff. An incipient 5 day cycle up phase has fallen apart, and suddenly ther…
Every time it looks as though the rally is running out of gas, somebody gives it a fill-up. It’s as if Friday’s selloff didn’t happen.
Meanwhile, did you notice that the Fed’s RRP slush fund dropped by $100 billion to a new low of $418 billion o…
That’s right spport fans. There’s a downtrend channel on the hourly chart of the ES, 24 hour S&P futures. But catch it while you can. The top of the channel will be at 5162 as of the 9 AM tick in New Yak. That descends to 5155 at 4 PM when the boyz…
Yesterday’s little launchpad fire on the ES, 24 hour S&P futures has been fully extinguished, and the pad has been rebuilt. The rocket engines are intact, and a new 5 day cycle buy signal has initiated the countdown to liftoff. The 5 day cycle proj…
Thanks to Mr. Softee, another Windows update has set me back this morning by at least 90 minutes, making it impossible to do the work that I had planned for today. My chart program won’t open. My trader workstation won’t open, and I was finally able to…
Higher lows and higher hize, gize.
But keep an eye on 5130 as of 8 AM in NY. That looks to be trend spport. If it breaks they could settle into a range with the next spport line around 5105 turday.
But if 5130 holds this morning, the next t…
Here’s a chart of it.
And another.
But here, we concern ourselves with the mundane day to day.
And the question at hand is whether we get the 4 day version of the 5 day cycle and bottom this morning, or is there one more d…
The ES 24 hour S&P futures projects to a 5 day cycle high of 5185, ideally due this afternoon. But a look at the hourly chart suggests that if they get that far, they’re going much, much higher. The conventional measured move target of yet another…