Whatever the Load said on Wednesday, the market changed its mind about it on Thursday.
But while it looked like a breakout, it really wasn’t. Yet.
As you can see on the ES 24 hour S&P futures, we have a megaphone pattern developing. Yes…
Yesterday, I guessed at a downtrend channel on the ES S&P 500 24 hour fuguetures chart, based on a double secret probation formula that I use from time to time, about which if I told you I would have to shoot you.
Anyway, it worked, and the m…
Today is the grand finale of the 2 day FOMC Dog and Pony show, climaxing with the regular appearance of Load Jaysus before the assembled masses at 2:30 PM ET, to explain the proclamation the high priests of monetary policy hand down at 2 PM.
The …
A two day circus is in town. It’s the FOMCircus featuring ringmaster Lord Jaysus Powell, and his Clown Posse.
The stock market celebrated its arrival yesterday. Anything that happens in the market between now and tomorrow’s dog and pony show is j…
Stocks are holding tightly to Friday’s range near the all time highs. At 6:20 AM in New York, the ES, 24 hour S&P futures were trading near the middle of the tiny trading range of the past 3 trading sessions.
The key levels to watch on the dow…
The ES, 24 hour S&P futures are still in a bullish pattern. Higher highs, with the exception of yesterday, so far, and higher lows, although the angle of ascent has decreased sharply. The action is now in a trading range of 4860-4903. We wait for t…
The ES, 24 hour S&P futures are perched on the edge of a precipice this morning. Will it jump or soar?
The key, initially, looks like 4860. If they break that this morning, then we’re looking at 4850, where a trendline intersects with the NY …
Time marches on and so does the market on its upward path. Overnight, the ES 24 hour S&P futures rolled to new high after new high, finally hitting the measured move projection of the high base breakout at 4886. It bumped into an uptrend channel li…
Looks like the market has decided not to decide. The ES 24 hour S&P futures are locked in a tight range. To me, it looks like a launchpad. If they clear 4865, I would expect a blastoff. Below 4843, I’d look for an itty bitty pullback before another…
That’s right, today’s 5 day cycle projection on the ES 24 hour futures chart is 4880. That’s also the conventional measured move implication of Friday’s high base breakout.
Hard to believe, Harry.
The See No Evil Market marches on. There’s…