The 5 day cycle projection has pulled back to 4548. The ES S&P futures hit 4546 this morning. Close enough for government work. Time for a breather.
The pullback has already come down to one support area around 3528. The big mahoff is at 4520…
Let’s zoom out a little more than usual to show you what the target of this move would be in the short run. And the winner is…
4484. That’s the approximate center of the new range on the ES S&P 500 futures. Here’s what’s next.
The market is in one of its patented sideways consolidations that happens so frequently when it edges to new highs. It’s monotonous. I’d love a different outcome, but expecting something different would be insane. So as we look at this at 5:45 AM ET, h…
Meanwhile, life goes on in the orderly, rigged market.
The trend is intact, but it has run into a bit of resistance near the round number and the top of the megaphone pattern that is shown nicely on the 2 hour bars.
Thanks for posting that. I know that you were goading me.😄 I appreciate the opportunity to re butt.
The linked post is just more clueless drivel. Ignorant garbage.
The excess cash, is, as I’ve pointed out many times, a direct result of the …
A couple of the S&P futures guys in Europe got a little nosebleed as the ES futures approached 4500 overnight. Late yesterday, I observed that megaphones were back in style on the charts, and that 4500 was a given. Earlier I updated the 5 day cycle…
The S&P futures (ES) didn’t make it to the 5 day cycle projection of 4472 before starting a little pullback this morning. The 4450 area is a potential sport level. If it doesn’t hold, then…
Yesterday at one point the 5 day cycle projection was 4420. Nailed it. Then the projection got to 4440. That was probably my brown sunglasses talking. 4420 turned out to be it.
Now what?
The ES futures (S&P500) broke support at 2 AM NY time. As of 6 AM they in the midst of at least a back kiss of the breakdown level of 4373. How things evolve from here over the next few hours will tell us whether a short term low is in place.
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