What else is new? The pattern on the hourly chart of the ES, 24 hour S&P futures is bullish again. It’s on its way to test the minor high of 5130. If they consolidate there, as I expect they will, the 5 day cycle projection would work out to around…
If that was the extent of the correction, buckle up. A new 5 day cycle up phase is under way. We might see an interim 3 day cycle high on Thursday, but the next 5 day cycle high would be due ideally until Monday. So count on today being an upsy-daisy. …
A return to the scene of the crime is a regular feature of stock market breakouts. When prices break through a previous top, they run for a bit, but typically they then sneak back to the site of the break before going on the lam again.
That’s whe…
The ES, 24 hour S&P futures would need to have an hourly close below 5127 today, and must be below that at the NY close, to have even a prayer of getting anything going on the downside. Barring that, the path of least resistance remains up, up, and…
The ES 24 hour S&P futures hit their 2-3 day cycle projection of 5105 overnight and promptly got whacked. But lest you, my bear friends, get too emboldened, the pattern will still be bullish, unless and until they break spport lines at 5080, 5075, …
Yesterday, I speculated that the ES, 24 hour S&P futures might trade in a 5050-80 range. That’s pretty much what has happened in the past 24 hours with the exception of a brief foray a few points above 5080. So far, this looks like a benign consoli…
The action of the last two days in the ES, 24 hour S&P futures, looks like an orderly consolidation so far. There’s still a 5 day cycle projection of 5050 hanging out there, and a cycle low isn’t ideally due until Wednesday. That said, the hourly o…
That’s right, former bears. Today is the day you either come back to life, or remain zombies consigned to market purgatory, wandering aimlessly in the desert, bereft of leadership, or hope, or reason. Praise Jaysus.
And so, we turn to the hourly …
Just an epic breakout yesterday. To da moon Alice. But what if you didn’t buy and hold the Magnificent Seven.
Swing Trade Screen Picks – What Happens When Not Holding the Mag Seven
LEE ADLER 2 – TECHNICAL TRADER FEBRUARY 23, 2024
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The ES 24 hour futures crossed the entire trading range overnight and has slightly breached the February 12 high. This is where it gets interesting. The 5 day cycle projection of 5065, suggests that the upside is all but done for now. But this isn’t th…