Here’s the 2 hour bar chart on the ES S&P futures. Looks real bottomy from here. If they get clear of 4397, look out above. Next stop 4420, and wait to see how the pattern around there shapes up. Consolidation, or top.
Meanwhile, when w…
Here’s the 2 hour bar chart. While we still have an hourly bear market, the 5 day cycle count and pattern of the past two weeks certainly looks base-y. The levels to watch on the downside are 4327 and 4309. Break those and we could have a bear party.
…
If this was a daily chart, it would be a bear market. It’s not. It’s just 2 hour bars. And last week’s triangle breakout looks like a bottom. The current pullback would be a test of the low, and it appears to have reversed in the last hour, as of 6 AM …
Ok. I’m sticking my neck out. But the 5 day cycle projection has been hit on the S&P futures in overnight trading in Aids Ya and Your Rope. And there’s a wee bit of a possible bottom pattern in the price graph and hourly oscillators.
Yes, thi…
I’m sorry folks, but this just isn’t a bearish pattern on the hourly. I mean the trend is, obviously. And the trend is your friend. But the pattern isn’t. Because this is a pattern. And what do we know about patterns, class?
That’s right.
All…
There it is. Bullish.
No… wait.
Maybe bearish?
We’ll know today. For starters the 2-3 day cycle projection points to 4420-4445. The 5 day cycle projection also points to 4445. So the projections say, breakout ahead.
The key re…
The 2-3 day cycle projection is 4245. 5 day is 4220.
4280 and 4270 are critical sport levels.
Get the big picture in your inbox every weekend.
If you are a new visitor to the Stool, please register and join in!…
Get the big picture in your inbox every weekend.
My weekend has started. I’m at Dworzec Centralny w Warszawie, waiting for a train for a little weekend road trip to Krakow. I will post more once I get situated in my train in about 30 minutes.
The ES fucutures edged through the top of the 5 day downtrend channel at around 2 AM this morning New York Time, but they didn’t get far. They ran into resistance at the 38.2 fiber nacho line of the previous decline. As of 4:45 AM ET, the futures are b…