The last day of trading before a US holiday weekend is usually a day for the bulls to party. This one is set up no different, and here at 6:30 AM, the party organizers are setting up the tent, tables, and well stocked bar. The party goers are beginning…
The overnight selloff leaves us with a 5 day cycle projection range of 3740-3780. As of 7 AM in New York, the 24 hour ES S&P fuguetures are sitting on a sport line at 3760, smack in the middle of the projected range. If this line gives way, then th…
The ES S&P 24 hour fuguetures have a 5 day cycle projection of 3780 on the hourly chart. It doesn’t guarantee that they’ll get there. There’s trend support at 3800. But if that breaks, the next trend support is around 3765-70. It looks like a more …
I guessed right yesterday that the 5 day cycle down phase would go sideways. Now we await its conclusion and the next pop in this rally. It might come today. It might come tomorrow. It looks good for at least 3965. But there’s a massive wall of supply …
The bulls still have running room. The 5 day cycle projection on the 24 hour ES S&P fuguetures hourly chart is now 3980-3990. But there appears to also be significant resistance at 3955. We’ll have to wait and see if they clear that. If they do, th…
Here at the Stool we focus on the intraday and very short term cyclical trading patterns. Very interesting right now.
The pattern on the hourly chart of the ES 24 hour S&P 500 fuguetures has turned unmistakably bullish. But there are challenges. They’ll arise at clearly delineated resistance levels. 3800, 3810, 3820, and 3835. Each in succession will be a test to …
Back from a 3 day weekend yesterday, which I, living in France, had no clue was a 3 day weekend. Mea culpa, I shoulda! But stocks were rejuvenated and celebrated.
Apparently, traders ate too much, because this morning the market has taken a big ol…
That’s right, today is the day we’ll face the music, my bear friends. Although I suspect that in the end, we’ll be clapping and singing a song. Today, we listen to this.
I mean, I’m dying up here. I got nuthin. OK, I keed. I got somethin.