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…
Well, yeah.
Politics and Markets Make Strange Bedfellows
LEE ADLER 2 – TECHNICAL TRADER JULY 21, 2024
Joe will go, but the market won’t go with him. Political events, no matter how much of a watershed they represent, do to …
What happens in yesterday, stays in yesterday. In the pre market this morning, 3 days of gains have been wiped out, and the 5 day cycle projection points to 5485. If this breaks 5605, the conventional measured move target would be 5455. What’s it all …
The hourly chart of the ES has that launchpad look again. It needs to close below 5622 today for us to even start thinking about a reversal. Meanwhile, there’s a 5 day cycle projection of 5695. There may be some resistance at 5655 and 5667.
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Everywhere you look on the ES hourly chart, nothing but uptrend channels. The 5 day cycle projection now points to 5660-65. Sell signals have been meaningless on the hourly oscillators. I would not even think of potential reversal unless the ES is belo…
The ES 24 hour S&P futures have shifted into trending mode in all of the time frames that we watch on this thread. There’s neither a 5 day or 2-3 day cycle projection. Both have been surpassed and there’s not enough wave amplitude for any downside …
This morning the ES has reached a 5 day cycle projection of 5570. But it needs to drop below 5555 to break the uptrend.
I started my summer of travel off on the wrong foot. I arrived just fine at my initial destination in Lyon, France, a wonderful City that I have visited many times. But, oops, I left my power adapter on the train. So I have a few hours of battery power…
