OK, so maybe it won’t get there today. Or maybe it will.
After all, this is done.
Looking at a 30 minute bar chart, the 2-3 day cycle projection now looks 3910 on the S&P fucutures. That looks eminently doable once they clear resi…
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OK, so maybe it won’t get there today. Or maybe it will.
After all, this is done.
Looking at a 30 minute bar chart, the 2-3 day cycle projection now looks 3910 on the S&P fucutures. That looks eminently doable once they clear resi…
I give you a 2 hour bar chart for perspective. This is unquestionably, absitively, posolutely, the top of this move. I mean. You can tell. Right?
While this looks like a top, and the price has come down from 500 to 171, two longer moving averages are still trending upward.
The problem for HODLers is that the first MA is at 117, and the second is at 57.
As I explained here, we’re in a liquidity shortage, but one that will be lessened over the rest of this month.
As liquidity ebbs and flows, we’ll see wild volatility changes over the next 3-6 months.
This morning, it’s to the upside, but …
As of 4:45 AM ET, the ES fucutures are pulling back from a high of about 3852, heading for multiple support lines around 3839+40. I imagine we’ll get a bounce from there. If it doesn’t, or if it’s weak, the next target would be around 3824-25.