DrStool Posted July 14, 2020 Report Share Posted July 14, 2020 The market seems to have made a 3 day cycle low at the bell yesterday, testing it in the wee hours, around 4 AM in NY. The ES have rallied back to the top of an apparent channel. This is where push comes to shove. The up phase may die here leading to another leg down to a 5 day cycle low later today or tomorrow, currently projected around 3125. Or it could break the downtrend with an hourly bar closing 3161 now or 3157 in the next hour. That trendline drops at a rate of about 4 PPH. If they clear that, the next obstacle is the top of a flattish uptrend channel at 3164. If that holds, then another plunge like yesterday's would be possible, if not likely over the next couple of days. We're at a fulcrum here, so stay tuned. Link to comment Share on other sites More sharing options...
DrStool Posted July 14, 2020 Author Report Share Posted July 14, 2020 A downtrend channel using the lows with a paralell upper bound is intact. Link to comment Share on other sites More sharing options...
jp6 Posted July 14, 2020 Report Share Posted July 14, 2020 SPX is trading within the box. Not going to break out or break down for now. Link to comment Share on other sites More sharing options...
DrStool Posted July 14, 2020 Author Report Share Posted July 14, 2020 The downtrend channel was broken by the price moving sideways. This is not usually bullish. The ES would now need to clear 3166 for a bullish signal. Link to comment Share on other sites More sharing options...
DrStool Posted July 14, 2020 Author Report Share Posted July 14, 2020 aaanditsgone Link to comment Share on other sites More sharing options...
DrStool Posted July 14, 2020 Author Report Share Posted July 14, 2020 ES needs to clear 3160 to avoid a crash later today. Link to comment Share on other sites More sharing options...
DrStool Posted July 14, 2020 Author Report Share Posted July 14, 2020 Breakout fakeout. Link to comment Share on other sites More sharing options...
MisFit Kid Posted July 14, 2020 Report Share Posted July 14, 2020 When will it end.......... Over Under Sideways Down Link to comment Share on other sites More sharing options...
DrStool Posted July 14, 2020 Author Report Share Posted July 14, 2020 I say we crash today. Link to comment Share on other sites More sharing options...
DrStool Posted July 14, 2020 Author Report Share Posted July 14, 2020 It was time for a rhyme. Link to comment Share on other sites More sharing options...
jp6 Posted July 14, 2020 Report Share Posted July 14, 2020 It's going to be very Boring till September Link to comment Share on other sites More sharing options...
DrStool Posted July 14, 2020 Author Report Share Posted July 14, 2020 We'll remember in September. Link to comment Share on other sites More sharing options...
Jimi Posted July 14, 2020 Report Share Posted July 14, 2020 Link to comment Share on other sites More sharing options...
Hobbiewood Posted July 14, 2020 Report Share Posted July 14, 2020 Nice post Jimi. I'm with Doc, lots of excitement later today. Let it plunge. Link to comment Share on other sites More sharing options...
DrStool Posted July 14, 2020 Author Report Share Posted July 14, 2020 Hourly oscillators now in bullish patterns. ES needs to clear 3166 for the up phase to get legs. Then has clearance to 3185. Link to comment Share on other sites More sharing options...
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