On the day to day scale that we watch here, it’s true! And if the ES 24 hour S&P futures are above 3630 by the time New Yak pre market trading opens at 8 AM ET, bears could be in some hot water for the next day or couple of days. On the other hand…
The Federal Plunge Protection Team (PPT) swung into action early yesterday, triggering a marketwide short squeeze with spectacular results. But these interventions can only last so long. The market must then sink or swim on its own. 5 day cycle project…
It is simple, direct, obvious.
Meanwhile, here we focus on the intraday stuff. Once again, the market has made an ostensible “bottom” in the premarket of the hourly ES S&P 24 hour futures. In order to confirm, the ES merely needs to…
5:18 AM ET The pattern currently developing on the hourly chart of the ES 24 hour S&P fugutures looks like a bottom. But it snot. It’s a consolidation. How do we know that? Because the 5 day cycle has been in an up phase for 2 1/2 days, which means it is now …
The 5 day cycle up phase started in the pre market on Sunday night. The ES 24 hour S&P futures are approaching the top of that up phase.
Wait, we’re at a low! How can this be a top?
Ask me that question in a couple days when the market is…
That’s what it looks like on the ES 24 hour futures here as pre market trading starts in New Yak at 8 AM ET. The timing is right and a 5 day cycle low projection of 3605 was hit. Hourly oscillators have formed a trough. But price hasn’t confirmed yet….
That’s right. Bulls don’t give up. And bears always do, sooner or later, so for those of you looking for and holding shorts, you will need strength of heart, patience, and most importantly, good timing. Because, in the end, timing is everything. Timing…
3:48 PM ET Yestiddy.
HowmIdoin?
Well, let’s start with a look at the 2 hour bars on the ES, S&P 500 24 hour futures. Is this rally normal for the bear market, or Abby Normal?
This one actually doesn’t look any better than the l…
Or not. Bears have the ball early in the pre market, but they need to do certain things on this drive to keep it.
The 5 day cycle has topped out. The megaphone pattern at the low is complete. The breakout is failing, and the price target implicat…
That’s right. Apologies for repeating, but when liquidity is tight, these price spikes merely rob demand from the future. And that is true whether this is the commitment of “cash on the sidelines” (rarely) or short covering (usually).
Now yesterd…