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…
Oop, there it is.
This uptrend is now extremely well established as it enters its 11th day from the low. The higher highs and higher lows have been persistent. The base breakout was tested and held. Its conventional measured move target is 4035. …
Originally posted at Capitalstool. The market is now operating in “Warren Space” What is Warren Space???? It’s the difference….the space….between the Governments “Implicit ” and…
Every day at the stroke of noon here in Nice, there’s a cannon blast. This has been going on for 160 years. It’s to remind the mayor that it’s time to go home from his morning dalliance, lest his wife catch him.
For the longest time, every day wh…