If you ask me, the market is getting weaker. Of course, I’m only talking about the hourly chart relative to time frames of a few days. I confine my work on the bigger picture to the Technical Trader reports. A kind individual took advantage of the risk…
Welcome back from the long weekend to all stock market religionists. In fact, the weekend is getting longer here in Europe. It’s the sacred day of Easter Monday. As in the US, the extra day on holiday weekends is for shopping. But just not for stocks. …
Really. There’s nothing to add.
Well, maybe the fact that the US Treasury is pumping $55 billion in cash into the accounts of various dealers, investors, and others in the week of April 4-11, with more to come throughout April. Maybe that matters…
That pullback was probably just the 5 day cycle down phase, with the cycle low at yesterday’s low, tested this morning. The ES, 24 hour S&P futures, only need to be above 4105 at mid day today to break the mild downtrend and indicate a new 5 day cy…
And there you have it.
Of course we’re talking about very short term targets here in this thread. Go here for the pig bicture.
And with each new day comes a new target. However, in this case, the market has been trending in such a narrow…
And then there are double tops. Some hold. Some don’t.
Today, in the very short run, the trick will be in the pullback. The market is in trending mode, so the first question will be whether there will be a pullback or not. Question 1a will be, if…
I look at this hourly chart of the ES, 24 hour S&P futures, and the uptrend looks spent. But the 5 day cycle projection has risen to 4080. And there’s clearance to 4072, the next resistance trendline. In addition, so far it is holding above the dow…
Ever since the weekend massacre that resulted in the shutdown of two big banks and bailout of those depositors, stocks have been in a relentless uptrend. On the ES, 24 hour S&P futures charts, that uptrend now has 2-3 day and 5 day cycle projection…
I used to rail about this constantly but I’ve let it go in recent years. Nobody cares that the most widely followed measure of US house prices uses horseshit methodology that renders it a useless indicator of current conditions. Had you been following …
That’s what the market is telling us this morning. Honestly, I don’t see a path out of this morass. Which probably means that we will have either rocket launch or a thunderous collapse today.
Other than that, today’s sport level to watch is the 3…