The last rally in a xxxxxx month cycle topping process is now under way. There are no projections yet on the shorter cycles, while the…
The chart of the hourly ES 24 hour S&P futures has met a key resistance trendline and has halted its move as of 7 AM NY time. But is this the end of the move, or merely a pause that refreshes? A 2-3 day cycle projection points to 5235, done. But us…
But first, our usual look at the hourly bar chart of the ES S&P fuguetures. It’s still in that launch paddy looking setup, 1 day after a 5 day cycle low was due. If this doesn’t launch today, then we’re stuck in a flat up phase, which is more likel…
Today is a national holiday in France, celebrating the Allied victory over the Nazis in WW2. So we won’t see any tape action until New York traders start actively trading in about 2 hours at about 8 AM. At that point we’re looking at a trend convergen…
5 hour bars on the ES 24 hour S&P futures show the market to be extended here to the level where previous minor tops have formed. The market has also reached a major resistance area.
So where to from here? Straight down today? Lately the…
List performance came back to earth last week after 3 months of strong gains. Including picks still open at the end of the week, plus…
More proof is needed before we can relax in the view that a 6-month cycle up phase has begun. A strong up day could get…
The ES, 24 hour S&P futures is crawling up along an uptrend channel line this morning. The line runs from 5140 at 8 AM ET to around 5170 at the NY close. They’d need to break that for starters to even think about starting a top pattern. Otherwise, …
Forget the modest increase in jobs reported by the BLS. Withholding tax collections were strong in April. The US Treasury is flush with more cash…
Powell is a dove. That was likely settled for good Wednesday. There was justification for market expectations of a more hawkish FOMC and Chair. Inflation has been sticky, and the current trajectory unclear. It’s a leap of faith today to believe inflation is moving to the Fed’s 2% target.