What else is new? The pattern on the hourly chart of the ES, 24 hour S&P futures is bullish again. It’s on its way to test the minor high of 5130. If they consolidate there, as I expect they will, the 5 day cycle projection would work out to around…
Cycles have gotten in gear to the upside, with most projections pointing to the xxxxxxxx area. The conventional measured move target of the base breakout…
If that was the extent of the correction, buckle up. A new 5 day cycle up phase is under way. We might see an interim 3 day cycle high on Thursday, but the next 5 day cycle high would be due ideally until Monday. So count on today being an upsy-daisy. …
A return to the scene of the crime is a regular feature of stock market breakouts. When prices break through a previous top, they run for a bit, but typically they then sneak back to the site of the break before going on the lam again.
That’s whe…
The Fed’s weekly real time balance sheet data and its slightly lagged data on the condition of the US banking system still show little sign…
If the rally doesn’t broaden and gain strength this week then it’s probably on its last legs, and set for a big correction. Any broadening…
The ES, 24 hour S&P futures would need to have an hourly close below 5127 today, and must be below that at the NY close, to have even a prayer of getting anything going on the downside. Barring that, the path of least resistance remains up, up, and…
How far can this rally go? Should we be locking in some gains? That’s a paraphrase of questions I’ve been getting from clients recently. It does seem as if the stock market goes up every day and with all the ups and downs of the last few years, it is natural to wonder if we’re […]
Withholding tax collections soared in February to their highest level in 13 months. If this is not just a flash in the pan or data…
Based on Thursday’s closing prices, the swing trade screens generated 57 charts which met all buy side criteria for visual review, and 75 which met…