DrStool Posted November 23, 2020 Report Share Posted November 23, 2020 Yes, they are. They have come back to celebrate the holiday. Did they ever really leave or were they just jerkin' us off? So all of Friday's loss has been recovered here at 3:46 AM in New York, 9:46 AM in Central Europe where I am. It's another crisp, sunny beautiful Mediterranean day here on the shores of the Adriatic Sea and as I look out at my Windows, I see trendlines. I see lots and lots of trendlnes. In fact the ES just hit the underside of an uptrend line a few minutes ago. It's rising, so it's not much of a constraint. That was at 3579. By the time, New York opens, it will be around 3585. Goodness gracious, pray for the bears if they get above that line. Because it would probably mean the trend is accelerating. 3585 is a big number from the perspective of an important daily resistance level also. If they manage to stay below that, bears will remain in business, at least for a possible retest of Friday's low around 3542. If by some act of the gods of the bears, that's broken, the shorts will be in business. I must say that at this point, the hourly oscillators say we're going up, but there's not a lot of conviction there. The slope of those indicators is tepid across the board. And guess what. The 5 day cycle projection points to 3585. Surprise, surprise. It is a holiday week in the US of course. More often than not, that's bullish, especially, Tanks Giving week. Link to comment Share on other sites More sharing options...
DrStool Posted November 23, 2020 Author Report Share Posted November 23, 2020 Looking at the 30 minute bars. A break of the trendline at 3575 would suggest a lopsided top pattern. But bullish as all getout if it holds. Link to comment Share on other sites More sharing options...
DrStool Posted November 23, 2020 Author Report Share Posted November 23, 2020 If you draw that uptrend channel using the highs to establish the lower parallel, there's been no break. Link to comment Share on other sites More sharing options...
DrStool Posted November 23, 2020 Author Report Share Posted November 23, 2020 5 day cycle projection now 3592. Link to comment Share on other sites More sharing options...
DrStool Posted November 23, 2020 Author Report Share Posted November 23, 2020 Make that 3603. Link to comment Share on other sites More sharing options...
DrStool Posted November 23, 2020 Author Report Share Posted November 23, 2020 38 minutes ago, DrStool said: Make that 3603. Wow. I took the bait. That's back down to 3588. We may be done here. Link to comment Share on other sites More sharing options...
FranciscoTheMan Posted November 23, 2020 Report Share Posted November 23, 2020 wild action on the S&P. Just a few more points to go.... Link to comment Share on other sites More sharing options...
FranciscoTheMan Posted November 23, 2020 Report Share Posted November 23, 2020 Man, I'm a good fade Link to comment Share on other sites More sharing options...
DrStool Posted November 23, 2020 Author Report Share Posted November 23, 2020 Is it me, or just the market? Link to comment Share on other sites More sharing options...
DrStool Posted November 23, 2020 Author Report Share Posted November 23, 2020 I have decided to just buy and hold. Link to comment Share on other sites More sharing options...
DrStool Posted November 23, 2020 Author Report Share Posted November 23, 2020 What a nasty market. Gap and crap, every day. Trading range hell. Have a great evening! 😁 Link to comment Share on other sites More sharing options...
DrStool Posted November 23, 2020 Author Report Share Posted November 23, 2020 This is just disgusting. Link to comment Share on other sites More sharing options...
DrStool Posted November 23, 2020 Author Report Share Posted November 23, 2020 Pickpockets at work. Link to comment Share on other sites More sharing options...
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