Category: Lee’s Free Thinking

My longer term work has consistently led me to a bullish conclusion.

Stock Market Biden Time for the Bulls

My comments here pertain only to today, not to what I expect longer term.

The trading pattern in the ES fucutures since the close in NY yesterday is odd looking relative to recent weeks, and recent weeks have been odd looking. Make that recent months. The Fed has distorted the playing field.

The overnight gaps have been legendary. The legendary has become ordinary. If you’re not hedged by trading the fucutures 24 hours a day you are guaranteed an ugly surprise a couple of mornings every week when you get up and look at your screen for the first time at 6:30 AM.

But it needs to break down below 3512 before it means anything. Then the conventional measured move target would be 3370-75.

At 6:30 AM in New York, the ES fucutures have spent the overnight hours pulling back, reaching key support at 3460. That also happens to be the 5 day cycle downside projection.

What happens next depends on whether this support level and target ho…

I can say only that I’m glad not to be in the US now. I’m doing my best to avoid consuming any news. Just make it stop, ok?

Meanwhile, Wall Street rolls and the clueless media invents a different excuse for it every 15 minutes.

Speaks for itself. 5 day cycle projection is 3365. The conventional measured move target of the inverse head and shoulders breakout is 3425-30