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Chart Shows Why Bulls Won't Like This Rebound 12/6/21

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There's just too much overhead. The indicators don't set up well for a breakout here, but the tale will be told when New York opens. The key level looks like 4568-74. If they don't clear that, bears have the ball. 

If they clear it, bulls maintain possession, but the goal line is at 4607. No touchdown and victory celebration for them without crossing that. 

tvc_571ad4449b8debe4819571bd55adeb66.png

 

More later! Meanwhile, the big picture. 

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Interesting setup. The 5 day cycle low seems to have been late Thursday. This could be the high. The 5 day cycle projection may have been 4605, already hit. Or it could be as high as 4620. Watch for a rollover here at resistance. If not, then more upside ahead. 

tvc_b5e030539899ab5a4cadb22688e38281.png

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