At first glance earlier this morning, this setup looked bullish. Now it’s 55-45, in my view. They’ve got work to do, and if they fail, this could just as easily fall apart.
A 3 day cycle low is due around the NY open. They need to hold above 5183…
For the last 24 hours, the pattern on the ES, hourly S&P futures chart has been bullish. Now push comes to shove. Is it a dead cat bounce, or the onset of recovery.
I noted yesterday the information brought to our attention by Potatohead on t…
Our friend Potatohead reported over the weekend that the CME had called for more margin on stock futures.
Then pre market trading opened on Sunday night and the result was predictable. Once the liquidation to meet this mass margin call is compl…
First, this. Why Primary Dealers Net Short Fixed Income Is Now Bad News for Stocks
Now a look at the 4 hour bars for some perspective on just how significant yesterday’s selloff was. This is not a joke.
If this morning’s weakness sticks, the…
So I open my charts today and see this and say WTF!
On the hourly ES, 24 hour S&P futures, the downtrend is broken, but there’s no handle breakout yet. For that, it probably needs to clear 5500. The conventional measured move target would the…
The 5 day cycle projection on the ES, 24 hour S&P futures is 5550, with the high ideally due Tuesday. That suggests that the downtrend will be broken today or tomorrow. The conventional measured move target of an hourly close above 5490 would be 55…
Oh, my money! How can I lose thee? Let me count the ways.
The ES, 24 hour S&P futures shows little sign of a rebound as it challenges support at 5410. At 8:30 AM ET, it was challenging its sharpest downtrend line at 5425. Even if it clears that, there’s more sharply descending trend resistance suggested a…
For the bears, that is. I pointed out last night that the market topped out on time but fell shy of hourly cycle projections. That’s usually a sign of weakness. This morning’s tape has borne that out. The ES, 24 hour S&P futures now have a 5 day cy…
Yes, my friends, we have a base breakout on the hourly chart of the ES, 24 hour S&P fuguetures. It has a conventional measured move target of 5615. At the same time, there’s a 5 day cycle projection of 5620-25. Trend spport is around 5555 this morn…