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ES S&P Futures Project to 4740 Today

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That, ladies and germs, is just the 5 day cycle projection. The measured move target of the base breakout is 4820. But I don't expect that to happen today. 

At least not in the first hour. Maybe the second. 


Not funny. 

Not funnier is that upon clearing 4720, the implied target would be 4950. Do, I hear 5000. Of course, why not. 



More later! Meanwhile, the big picture. 

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"The legislation outlines that Congress would have to specify the exact dollar amount of a new national debt limit -- likely north of $30 trillion. The fast-track process would expire after January 15."


The limit now is 28.4. So it looks like 1 1/2 or 2 TN. That should keep the market busy for awhile. 

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1 hour ago, Jorma said:

It's definitely the Dragon Pattern. Are there any Chinese technicians to tell us what it means?

Brontosaurus. And it had it's front legs in a hole when it started. This could be significant. 

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