Why is this time different? I don’t know about you, but to me, this looks like every other short term bottom we’ve had for the past dozen years. I guess it could be different, and we could know this morning.
Don’t ask.
We have a rebound. We know where the low is. By connecting lows and drawing a parallel line, we see a channel. So I named it. The Houston We Have a Problem Ship Channel. Our stock market space capsule was out there on its way to the mo…
It ain’t exactly clear, but we have some parameters to watch this morning, that should tell us. Right now at 7:15 AM in New York, the ES is hanging from the lowest downtrending sport line. If they don’t climb back above 4375 in the next two hours, then…
I was wrong about Sell Rosh Hashana, Buy Yom Kippur. I thought it wouldn’t work this year. I was wrong. When it comes to Wall Street religion, and my analytical opinion, religion wins. It’s not about logic. It’s not about facts. It’s religion! For the …
Even on the intraday charts. The ES futures rallied back to the 10 day trendline. They tagged it nicely and stopped dead. Now, at 5:20 AM NY time, they’re showing signs of rolling over again. This is after also hitting a 5 day cycle projection of 4485….
OK. I cheated. That’s counting the weekend. Was there an up day yesterday. Sure can’t tell that from the hourly chart. And as of 5:45 AM in New York, the price of the ES, S&P futures, has reached a critical juncture.
That juncture is the pric…
Here’s the 2 hour bar look.
Strange. We’re not used to seeing persistent downtrends that last for 8 days. Must have something to do with Sell Rosh Hashanah, Buy Yom Kippur.
And lest we forget, it’s that time of the month. Fed MBS settlement…
From the 2 hour bar perspective, Friday’s breakdown completed a helluva top pattern. Now, at 5:30 AM NY time, they’re fighting their way back. Here’s the 2 hour bar look.
They’re attacking resistance at 4489. If they get through that, the n…
Focus on what matters, not the false news headlines. Here’s what matters.
I’ll start with the 2 hour bars this morning, for perspective. As of 4 AM in NY, the numbers to watch, progressively, for resistance, are 4518-20, 4525, and 4530. If those are cleared, the next target would be 4550, and that could happen fast.
Then…
