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…
Will the bears also score a late goal today to tie the stock market game?
I didn’t think so. But after yesterday’s selloff in stocks, I thought about George Bush One’s famous gaffe, in his September 7, 1941 Pearl Harbor speech.
I don’t think yesterday was Pearl Harbor with the bears finally sneaking up on the bulls, b…
Apparently traders are taking the old Wall Street adage to heart. Sell Rosh Hashanah, buy Yom Kippur. So Happy New Year to all you Jewish bears out there, and other celebrants and non-celebrants alike. L’shana tovah.
At least this morning, we get…
Happy Labor Day Weekend! First, let’s start with the 4 hour bar look for perspective. This thing just keeps grinding away at resistance, while staying around and above the top of the megaphone pattern that began in July.
Now, the usual one …
Those are the numbers to watch as the ES S&P futures toy with the trendline that forms the upper line of the megaphone pattern that we’ve been shouting about for the past month. Inside that range is noise. Breaking the range should give us a little…
The more that things remain the same, the more they remain the same.
The 5 day cycle projection has pulled back to 4548. The ES S&P futures hit 4546 this morning. Close enough for government work. Time for a breather.
The pullback has already come down to one support area around 3528. The big mahoff is at 4520…
Let’s zoom out a little more than usual to show you what the target of this move would be in the short run. And the winner is…
4484. That’s the approximate center of the new range on the ES S&P 500 futures. Here’s what’s next.
