Well, that selloff yesterday was something!
But also nothing.
On the hourly chart of the ES, it was a minor correction. The breakdown of the top pattern has a conventional measured move target of 5235, but I’m not sure that will get hit. The…
Yesterday was Gimme Back Day. That’s the day when Wall Street dealers collectively say, Gimme Back My Inventory! They shake the tree. The low hanging fruit falls off. They pick it up from the ground and redistribute it in the morning at higher prices….
The market is still in an uptrend, but slower and slower. Will the momo reverse? They would need to have an hourly close below 5300 on the ES to create a reversal pattern.
Meanwhile, I’m slowing things down on the Train de Merveilles from Nice u…
Keeping in mind that cycles and liquidity turned bullish back in April, here’s the latest.
Higher and Higher
LEE ADLER 2 – TECHNICAL TRADER MAY 20, 2024
Cycle projections have increased across the board. A top is coming but…
Pop and drop and stop. That’s the way it goes. Now the question is whether we get a 3 day cycle low. With the hourly oscillators around neutral an upturn from this level would probably be a blastoff. However, by the same token, if they fold here, we co…
Yesterday’s rally had a bit of not a second, but a third wind, feel to it. The first leg began around April 18, when I was reporting that cycles and liquidity showed the market was headed for a new high in this bull phase. The second wind started on Ma…
In running my daily stock screens for my personal trading account, I’ve been getting some bizarre results over the past week. Today was no exception.
These are the same screens that I run for the weekly swing trade chart picks report in Liquidity …
Seriously. A 5 day cycle high is due today or tomorrow on the ES, 24 hour S&P futures, but there’s no sign of a move either way. Higher But Narrow
So we wait.
The range parameters to watch are 5209 and 5240. Snoozefest until one or the …
The chart of the hourly ES 24 hour S&P futures has met a key resistance trendline and has halted its move as of 7 AM NY time. But is this the end of the move, or merely a pause that refreshes? A 2-3 day cycle projection points to 5235, done. But us…
But first, our usual look at the hourly bar chart of the ES S&P fuguetures. It’s still in that launch paddy looking setup, 1 day after a 5 day cycle low was due. If this doesn’t launch today, then we’re stuck in a flat up phase, which is more likel…