Jump to content

Right Shoulder Right Shoulder, Roll Over, Roll Over 6/3/21

Rate this topic

Recommended Posts

This is the 9th day in the same 1% range. But we now have a completed head and shoulders top pattern with the ES fucutures sitting right at the neckline at 6:10 AM in New Yak. A breakdown looks all but certain.  The 5 day cycle projection is 4175-85. Significant support is indicated around 4178. 



Two of the three hourly cycle indicators are bearish. Momentum is holding on near neutral.  They are all slightly below zero, so a downturn from here could get some teeth. But a stick save could also send them soaring. Failed head and shoulders breakdowns often lead to vicious short squeezes. 

If you are a new visitor, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter.  




Link to comment
Share on other sites

  • Replies 10
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

I have a big bunch of nothin'. Well, even more than usual, and that's saying a lot. Just a bunch of ABC moves on 60M ES. Went down and pierced the 610 (olive green) EMA twice so far, but couldn't close below it, then took off in a northerly direction. Doesn't seem to like that 610 much. It ran away pretty quickly. Let's see if the 55 EMA (red line) can contain the move and turn it back down. I'm even more confused than is typically the case. 

Screen Shot 2021-06-03 at 9.30.51 AM.png

Link to comment
Share on other sites

I just added a live customer service, sales chat feature to LT. I have arrived in the 21st century. 

As I was working with the new app, I figured out that it was a Russian company. Putin now has a backdoor into everything I do.  😲😲😲 

Link to comment
Share on other sites


The market wants to go down but is waiting for bond rates to blow out some more.

For this to significantly happen the bond market in turn waits for some more inflation confirmation data.

Its all a waiting game right now.

Link to comment
Share on other sites

This topic is now closed to further replies.

  • Tell a friend

    Love Stool Pigeons Wire Message Board? Tell a friend!
  • Recently Browsing   0 members

    • No registered users viewing this page.
  • ×
    • Create New...