DrStool Posted March 9, 2022 Report Share Posted March 9, 2022 The ES S&P futures have formed a beautiful bottom here in Europe at 10 AM Central European TIme, 4 AM New York time. It's a near perfect W with strong hourly oscillator patterns. A 2 day downtrend channel has been broken but the rub is that a 4 day downtrend channel remains in force. The ES needs to be above 4230 as of 10 AM in New York to break that channel. If it does, it could roll upwards quickly toward the next resistance zone of 4260-80. On the other hand, if ES is below 4180 when NY opens, then there would be real potential for a crash. Breaking yesterday's low of 4142.8 would be the trigger for the beginning of a crash. The last line of defense for the longs would be 4108. Here's the one hour bars view. And the 5 hour bars. I don't know if you can see this subtle, imperceptible pattern here. Meanwhile, the big picture: Gold Breaks Out of Massive Long Term High Base, Miners Surge Fewer Picks Remain But Still 100% Short, With Gains Why I Don’t Care that Short Term Indicators Are Bullish Withholding Tax Surge in February was All Inflation Liquidity With Eyes Glued to Ukraine If you are a new visitor to the Stool, 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 More sharing options...
DrStool Posted March 9, 2022 Author Report Share Posted March 9, 2022 The Battle of the Breakout Link to comment Share on other sites More sharing options...
DrStool Posted March 9, 2022 Author Report Share Posted March 9, 2022 2-3 day cycle projection 4280-90. Link to comment Share on other sites More sharing options...
Jorma Posted March 9, 2022 Report Share Posted March 9, 2022 I'm seeing DAX up 5%. Something is breaking somewhere. Link to comment Share on other sites More sharing options...
Jimi Posted March 9, 2022 Report Share Posted March 9, 2022 So, that's clearly Emperor Titus on the left. Unclear to me, however, who the other two Roman luminaries may be. Link to comment Share on other sites More sharing options...
Jorma Posted March 9, 2022 Report Share Posted March 9, 2022 I think they guy on the right is Karl Malden. Link to comment Share on other sites More sharing options...
Jimi Posted March 9, 2022 Report Share Posted March 9, 2022 1 minute ago, Jorma said: I think they guy on the right is Karl Malden. Yup! Link to comment Share on other sites More sharing options...
DrStool Posted March 9, 2022 Author Report Share Posted March 9, 2022 Return to the Scene of the Crime rally. Link to comment Share on other sites More sharing options...
DrStool Posted March 9, 2022 Author Report Share Posted March 9, 2022 27 minutes ago, Jimi said: Yup! Don't leave home without it. Link to comment Share on other sites More sharing options...
DrStool Posted March 9, 2022 Author Report Share Posted March 9, 2022 Well, my house is sold. Again. This one should stick. Closing, March 25. Link to comment Share on other sites More sharing options...
BurntOnce Posted March 9, 2022 Report Share Posted March 9, 2022 it's all good. "European stocks rally on best day in nearly two years as Ukraine’s president cools to NATO membership" Link to comment Share on other sites More sharing options...
MisFit Kid Posted March 9, 2022 Report Share Posted March 9, 2022 12 minutes ago, BurntOnce said: it's all good. "European stocks rally on best day in nearly two years as Ukraine’s president cools to NATO membership" Funny, they said "Ukraine’s president cools to NATO membership"........ yesterday, too.... Link to comment Share on other sites More sharing options...
DrStool Posted March 9, 2022 Author Report Share Posted March 9, 2022 Meanwhile, Putin prepares to blow up Chernobyl and fry everyone in Ukraine and most of Eastern Europe. Link to comment Share on other sites More sharing options...
DrStool Posted March 9, 2022 Author Report Share Posted March 9, 2022 2-3 day cycle projection now 4325. Link to comment Share on other sites More sharing options...
MisFit Kid Posted March 9, 2022 Report Share Posted March 9, 2022 I lost money in the markets yesterday, but I could save some money on my car insurance if I switch to GEICO today........ (amazingly this is a True Story) Link to comment Share on other sites More sharing options...
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