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Today is Rodman Day 9/29/21

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The market is rebounding today, with a big jump off the floor, after the bears' in and out rim shot yesterday. They had a shot to win at the buzzer, but couldn't sink it. Bulls got the rebound and are running the floor this morning. 

If you're into fiber nachos to start your day off right, the 38.2 on the ES fucutures is at 4399. The fitty is at 4415. Chart resistance levels are right where the futures are trading at 4 AM in New York at 4387. After that and a little later there's a resistance cluster around 4305-08 around the time NY opens. 

Will it get that high? Hourly oscillators are solidly bullish, but it's too soon in the upturn for any cycle projections. I'll look for a 2-3 day cycle projection in a few hours. For the bigger picture see The Ugh Market.



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Meanwhile, for your longer term infotainment and edification:

A Few Good Signs from the Gold Miners, But Not the Metal

Rangebound Noisy Signals from Swing Trade Screen

The Ugh Market

Liquidity Matters, The Fed’s BS Doesn’t

Get Ready for the Coming Bond Market Bloodbath

When Hope Is Not a Good Thing

Useless Banking Indicators Except for One Giant Red Flag

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I'm back. Hourly cycle oscillators have edged down along with prices. Sets up a potential positive divergence as the lows are tested or are broken. 5 day cycle projection now 4340. An upturn between 4350-4340 would be a setup for a pop. 

But if that doesn't hold, they'll see 4320 in a heartbeat and probably lower lows after a bounce.


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19 hours ago, jp6 said:

Looks like market is doing Window dressing for months end.


29 sep morning.png


This Morning we got that up leg. looks like it's not finished. Most likely it should stop near gap, If it start to fill gap then gap will get filled then another lag down will begin.

First target is around 4414 then If it get pass that then 4465 which will close the gap.




30 sep 2021 Morning.png

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