And now it is flying blind, without much clue as to today’s direction. The ES, 24 hour S&P futures are in a tight triangle with an apex right at 5200 later today. One way or another, it will break out of the triangle today. We can say for certain …
What else should we expect?
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All eyes on the 5163-5170 band of resistance 5163-5170 on the ES, 24 hour S&P futures hourly chart. If cleared it could be the start of a genuine half day rebound. But they’d face still more resistance at 5178-5187 in the NY opening hour. Clearing…
They broke yesterday’s uptrend channel late in the day. Oh, wait a minute. That’s all it took to recover from what had been a big break. Now at 6 AM in New York, the ES 24 hour S&P hourly futures chart shows the index trundling upward along the cen…
That’s right, storps fans. Stocks can go up AND down, as the last two days have shown. However, with the market now being flooded with cash from T-bill paydowns every couple of days, don’t expect much more downside for the time being. It was fun while …
Europe is on holiday today, so it’s kind of quiet, but of course US stocks start the week on an up note. What else is new?
The ES 24 hour S&P futures made a new high overnight. They’re pulling back in the 7-8 AM hour, with trend support upcomi…
There are no more operative red channels on the hourly chart of the ES 24 hour S&P futures. That means the only thing to stop a rally will be uptrending resistance or loss of demand momentum. A 5 day cycle projection suggests that that’s likely aro…
We will test that maxim in the 7-8 AM hour in New York as the ES 24 hour S&P futures run into a trend resistance convergence at 5233. If they clear that little obstacle, there will be immediate running room to 5250.
If they don’t clear it, the…
We are in the second day of a 5 day cycle up phase in the US stock market. There’s no sign yet of an explosive move.
The ES 24 hour S&P futures turned upward off yesterday’s early low and late test of the low. The next high is ideally due Fri…
The 5 day cycle projection on the ES, 24 hour S&P futures is currently 5200. But there’s a spport line convergence at 5214 in the hour ending at 9 AM in NY. So we’ll see. If they take that out, then I would think 5200 a done deal. Otherwise we make…