DrStool Posted December 11, 2020 Report Share Posted December 11, 2020 Here in Europe when the business day started around 8 AM (2 AM NY) somebody dropped a big turd. The ES fell through support to the next support area around 3640. That's the bottom of the current effective downtrend channel. The 5 day cycle projection is 3617. Hourly indicators are mixed and in a postive divergence. That suggests that the 5 day cycle projection might not be seen. It will depend on whether the big uptrend support line now at 3637 breaks down. If it doesn't, and those hourly indicators turn up before making new lows, I'd expect yet another rally. Conversely, if 3637 doesn't hold, then 3617 would be the next target. Link to comment Share on other sites More sharing options...
DrStool Posted December 11, 2020 Author Report Share Posted December 11, 2020 This looks like a middle of nowhere bounce, but I found the trendline that generated it. Yes, there is a trendline. There's always a trendline. See if you can see it. A case can now also be made for a 5 day cycle projection of 3630. Link to comment Share on other sites More sharing options...
Jorma Posted December 11, 2020 Report Share Posted December 11, 2020 It is uncanny that on the 10 minute and shorter charts how often nipple bottoms fall at the half hour most commonly and at the full hour often. I assume that algos must use such times as an input. Link to comment Share on other sites More sharing options...
DrStool Posted December 11, 2020 Author Report Share Posted December 11, 2020 The Red Sea parts. Link to comment Share on other sites More sharing options...
No Einstein Posted December 11, 2020 Report Share Posted December 11, 2020 21 minutes ago, DrStool said: The Red Sea parts. Happy Hanukkah Lee, maybe the Festival of Lights will mark the light at the end of the tunnel this year...🙂 Link to comment Share on other sites More sharing options...
DrStool Posted December 11, 2020 Author Report Share Posted December 11, 2020 Thanks NE. A little Hannukah gelt for all! Link to comment Share on other sites More sharing options...
No Einstein Posted December 11, 2020 Report Share Posted December 11, 2020 I want my gelt to be gold Link to comment Share on other sites More sharing options...
Jorma Posted December 11, 2020 Report Share Posted December 11, 2020 By the way the Senate may not pass a one week continuing spending resolution today which would shut the government down tomorrow. Link to comment Share on other sites More sharing options...
DrStool Posted December 11, 2020 Author Report Share Posted December 11, 2020 BAck to multiple resistance levels. Link to comment Share on other sites More sharing options...
DrStool Posted December 11, 2020 Author Report Share Posted December 11, 2020 Link to comment Share on other sites More sharing options...
Jorma Posted December 11, 2020 Report Share Posted December 11, 2020 Now passed. I know it's savvy as hell to think these little dramas don't mean a thing and are just theater. Link to comment Share on other sites More sharing options...
DrStool Posted December 11, 2020 Author Report Share Posted December 11, 2020 2-3 day cycle projection 3580 Link to comment Share on other sites More sharing options...
FranciscoTheMan Posted December 11, 2020 Report Share Posted December 11, 2020 wondering if that is a typo? Link to comment Share on other sites More sharing options...
DrStool Posted December 11, 2020 Author Report Share Posted December 11, 2020 Indeed Link to comment Share on other sites More sharing options...
DrStool Posted December 11, 2020 Author Report Share Posted December 11, 2020 3680 Link to comment Share on other sites More sharing options...
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