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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We’ve been here before. Hard to say where this is going, although in view of the Four Laws of Markodynamics, I have to give the benefit of the doubt to the upside. Key numbers are …
There’s been a little more volatility in the last couple of days, but the market has been unyielding in maintaining the trend angle that it began from, two weeks ago. I can’t predict when it will deviate from that. Until then, we just watch and play sp…
Courtesy of jp6.
The end is nigh. Prepare to meet your doom.
I’ll be back with the morning intraday look after I finish the Swing Trade Chart Picks report.
And now for your longer term listening and dining pleasure:
So You Really Think the Fed Can Taper?
Her…
OK, so I’ve used that headline before. Sue me.
This was so predictable, but that doesn’t mean I’m in a good mood. Inflation is raging. Savers are getting killed, and no different from any time in the past 12 years, wild eyed, often criminal, spec…
Way back on August 2 the ES fucutures made a peak at 3 AM NY time, that, little did we know at the time, would be the beginning of the little uptrend line has since been touched 3 times. Each time, the advance was repelled. But alas, each time it did t…
Here are the Four Laws of Market Dynamics.