If you’re a bear, you don’t wanna see the up. The 5 day cycle down phase is under way, according to the hourly chart oscillators on the ES, S&P 500. But so far it’s flat, and its projection is only 4517-18.
Hourly channel sport is currently a…
If you don’t believe it, best look at the 2 hour bar chart of the ES S&P futures.
At 6 AM New York Times, we are clearly at a trend infartion point, as they test trend sport at 4519. If that holds, it’s gonna be up up and away, first to fool …
That doesn’t mean that it will get there, of course, but this is the conventional measured move target of this break of the top of the base on the ES S&P futures. I’ve shown it here on the 4 hour bar chart.
The break is very slight so far, and…
As we can see on the hourly chart, after the ES S&P futures hit trend resistance, and an ostensible 5 day cycle projection of 4478.
We also saw a classic negative divergence at on the hourly oscillators at the high.
As far as how far do…
The Fed’s RRP slush fund drawdown will start next week.
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.
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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…