Now that I’ve written this headline, the contrarian in me recognizes that this is probably a sure sign that we’re in a major top. But…
The bears fought,
A beachhead to gain,
But in the end,
Could not sustain.
Now once more,
They try again.
Hourly bars-
Zooming in a bit
Here at 6 AM in New York as the first US traders sleepi…
The little overnight pullback hasn’t amounted to much here at 4:30 AM ET. The uptrend ran into resistance yesterday, but the current iteration of the hourly uptrend remains intact. It would need to end the 5-6 AM hour below 3515 to break anything.
The hourly chart of the ES fucutures is as wedged out as you can get. Over the next couple of hours, before New York opens, it will either break down or break out. The 5 day cycle projection now points to 3510-15, so from that perspective, the odds fav…
Going through my stock screens this morning, I was shocked at how bullish the output was. Chart after chart. Sells were few and far between.
I think we’re going to have to grit our teeth for awhile. But this isn’t a surprise. We knew for a coupl…
It sure feels as though the S&P is headed for the 3500 level again over the next few days. But the hourly chart of the ES fucutures shows that there are obstacles in the way.
After a news noise event like yesterday’s I wouldn’t read much into the chart until the reverberations settle down. Here’s the hourly. It shows that at 5:20 AM in NY, the rebound reached resistance at 3378.
Get a load of this. Does it look bullish to you?
The stock futures markets have taken the weekend at Bernie’s in stride. Here’s how today shapes up.
Was there some news?